JAKARTA. Indonesia’s PT Bakrie Telecom Tbk has proposed a debt restructuring plan that offers creditors cash instalments and debt-to-equity swaps, after a Jakarta court ordered the company to negotiate a debt restructuring with its creditors by Dec. 9. “The liability settlement scheme through steady cash payments will be divided among several groups [of creditors] according to the size of the obligations,” the company said in a stock exchange filing on Monday. One of Bakrie Telecom’s domestic suppliers, PT Netwave Multi Media, last month requested a court-supervised debt restructuring process in Jakarta. Bakrie Telecom owes Netwave Rp 4.7 billion ($387,000).
Bakrie Telecom proposes debt restructuring
JAKARTA. Indonesia’s PT Bakrie Telecom Tbk has proposed a debt restructuring plan that offers creditors cash instalments and debt-to-equity swaps, after a Jakarta court ordered the company to negotiate a debt restructuring with its creditors by Dec. 9. “The liability settlement scheme through steady cash payments will be divided among several groups [of creditors] according to the size of the obligations,” the company said in a stock exchange filing on Monday. One of Bakrie Telecom’s domestic suppliers, PT Netwave Multi Media, last month requested a court-supervised debt restructuring process in Jakarta. Bakrie Telecom owes Netwave Rp 4.7 billion ($387,000).