JAKARTA (TheInsiderStories) - PT Tower Bersama Infrastructure Tbk ( IDX: TBIG) executed US$500 million bank loan facilities including new Revolving Credit Facilities to date (RCF) with amount $200 million. This new RCF has a bullet maturity of 5 years and 3 month and is priced at Libor plus 175 basis points. Others, $300 million Facility B Extension is an existing Revolving Credit Facility. The maturity of Facility B has been extended, with a bullet maturity of 5 years and 3 months and is also priced at Libor plus 175 basis points. As of 31 December 2016, only $80 million had been drawn down from Facility B. Total Debt as of Dec. 31, 2016, was Rp17.11 trillion and gross senior debt was Rp9.45 trillion while the cash balance was Rp365 billion, resulting in net debt of Rp16.74 trillion and net senior debt of Rp9.09 trillion. Using the 4th quarter 2016 annualized EBITDA, the net senior debt to EBITDA ratio is 2.8x, giving TBIG ample borrowing headroom based on the financial covenants of not more than 5.0x net senior debt to annualized EBITDA at the bank level.
Menu