Gajah Tunggal to issue $500 million Notes

JAKARTA (TheInsiderStories) – PT Gajah Tunggal Tbk (IDX:GJTA) announced its plan to issue Notes (commercial paper) worth US$500 million or Rp6.66 trillion, the proceeds of which will be used to pay out its Senior Notes. The company pledged  its three existing assets – Head Office building as well as two plants in Banten and Tangerang, as collateral of the Notes.  The Notes will mature in 2022, while installment payments will be made twice a year.  The Notes issuance is pending on the approval of the company’s shareholders meeting, scheduled for June 20, 2017. (*)