Tunas Baru Lampung (TBLA.JK): Provides IDR350 Billion for Bonds Buyback

Tunas Baru Lampung (IDX TBLA) Siapkan Rp350 Miliar Untuk Buyback Obligasi investasimu.com

Photo: Tunas Baru Lampung 

English.investasimu.com. Based on information released by the Company on Thursday (21/10), PT Tunas Baru Lampung Tbk (TBLA.JK) is offering to buy back its bonds from 8-10 November 2021. The bonds to be repurchased by the Company are Sustainable Bonds I Tunas Baru Lampung Phase I Year 2018 with a fixed interest rate and the initial principal amount of IDR1.5 trillion. The Company has provided IDR350 billion (equivalent to USD24.7 million) to execute the plan with the buyback price was set at par.

The Company discloses that bondholders who are entitled to submit a sales offer for their bonds are all bondholders whose names are registered in the collective custody of the Indonesian Central Securities Depository (KSEI) until the end of the offering period. However, the buyback program can only be made to unaffiliated parties unless such affiliation occurs due to government ownership. The Company also stated that PT Mahastra Andalan Sekuritas, its affiliate, owns the Company's bonds with a nominal value of IDR30.9 billion.

In order to sell their bonds, bondholders who submit a sales offer are required to fill out and sign a Confirmation Letter of Bonds Sales Offer along with other required documents then submit them to the Company within the offering period. Should the Confirmation Letter received by the Company amounts to more than IDR350 billion, the Company will make an allotment proportionally or pro-rata basis. Early repayment of the Bonds is planned to be carried out on 22 November 2021.

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