Radiant uses loan for early bond repayment

JAKARTA: PT Radiant Utama Interinsco Tbk made early repayment to its bond I/2007 at IDR100 billion by using a loan facilitated by PT Bank DBS Indonesia last month. [We use loan] only from Bank DBS, said Radiant Utama Corporate Secretary Coki Lubis in
News Editor
News Editor - Bisnis.com 08 Desember 2010  |  00:09 WIB

JAKARTA: PT Radiant Utama Interinsco Tbk made early repayment to its bond I/2007 at IDR100 billion by using a loan facilitated by PT Bank DBS Indonesia last month. [We use loan] only from Bank DBS, said Radiant Utama Corporate Secretary Coki Lubis in a short message sent to Bisnis early this week.As the company accelerated the bond payment one year earlier than schedule, it was charged with additional coupon (sweetener) paid to the bondholders at 0.25% of the principal value, or equal to IDR250 million.The early repayment considered the limited opportunity to pay it off next year.The RUIS-coded stock company's BBB rating assigned by PT Fitch Ratings Indonesia was revoked recently following the early repayment. Yet, the company had secured approval from the bondholders at general meeting of bondholders last month to repay the loan sooner than schedule. (NOM)

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Editor : Muhammad Fariz Aulia

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