JAKARTA. PT Bakrie & Brothers Tbk (BNBR) sets to cut its debt by Rp 4 trillion to Rp 5 trillion through debt restructuring. President Director of BNBR Bobby Gafur Umar expects that the restructuring process will accomplish within one year or two years. Bobby said that BNBR needs leeway to launch business expansion to infrastructure sector. “We will have negotiation with creditors”, he said. Bobby added that BNBR will conduct the restructuring under the agreement with each of creditors. Recently, BNBR has restructured its debt by issuing a worth of Rp 990.6 billion of mandatory convertible bonds. Subsequently, the bonds will be converted under the scheme of without pre-emptive right issues. BNBR plans to issue 19.8 billion units of series D common stock, or equal with 17.45% of shares of issued capital and paid up capital.
BNBR restructures Rp 5 trillion of debts
JAKARTA. PT Bakrie & Brothers Tbk (BNBR) sets to cut its debt by Rp 4 trillion to Rp 5 trillion through debt restructuring. President Director of BNBR Bobby Gafur Umar expects that the restructuring process will accomplish within one year or two years. Bobby said that BNBR needs leeway to launch business expansion to infrastructure sector. “We will have negotiation with creditors”, he said. Bobby added that BNBR will conduct the restructuring under the agreement with each of creditors. Recently, BNBR has restructured its debt by issuing a worth of Rp 990.6 billion of mandatory convertible bonds. Subsequently, the bonds will be converted under the scheme of without pre-emptive right issues. BNBR plans to issue 19.8 billion units of series D common stock, or equal with 17.45% of shares of issued capital and paid up capital.