Tiphone Mobile Indonesia’s Bonds Issue in 3Q2016

Tiphone Mobile Indonesia, Tbk (TELE IJ), a cell phone and mobile phone voucher retail, will issue bond worth IDR1trn in 3Q2016. The Company use the opportunity the rest of shelf registration bond that are still worth IDR1.5trn, from total of IDR2trn, to pay debts and finance its working capital needs. This bond will issue in one series with 3-year of tenor, and with a coupon range between 9% up to 9.5%. The Company also use the opportunity of Indonesia bond market, seen from the increasingly low yield levels.

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As for the 30% of the fund’s bond issuance results, to pay off the loan syndication, while the 70% for working capital. Tiphone Mobile Indonesia’s loan syndication such as: credit commitment Tranche A worth IDR1.88trn; and Tranche B worth USD47mn, obtained in June last year with 36-months tenor. The Tranche A’s interest rate from Jakarta Interbank Offered Rate (JIBOR) plus a margin of 4.42% per year rates, while Tranche B’s interest rate from London Interbank Offered Rate (LIBOR) plus a margin 2% per year (onshore lender); and LIBOR plus a margin 2% per year (off-shore lender). For the record, Tiphone Mobile Indonesia has issued Shelf Registration Bonds Tranche I Year 2015 worth IDR500bn, with a coupon rate 11% and will be due on July 10, 2018.

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