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HOLDERS OF INDONESIAN TELCO MOBILE-8 BONDS AGREE ON ROLL OVERJAKARTA, Jun 30, 2009 (AsiaPulse via COMTEX) -- Holder of the bonds of debt burdened cellular phone operator PT Mobile-8 Telecom agreed to restructure a Rp675 billion (US$66.15 million) bond debt of the company. Around 79 per cent of bond holders that attended the meeting yesterday agreed on proposed rescheduling by phases in five years and cut in bond coupon rate, Mobile-8 secretary Chris Taufik said. Mobile-8 does not have to be injected with additional capital if it manages to chalk up profit before interest, tax, depreciation and amortization in the first quarter of 2010, Chris added. Under the agreement the debt maturity date is rolled over from March 15 in 2012 to March 15 in 2017 and the coupon rates are cut from 12.375 per cent to 5 per cent in 2009-2011, to 8 per cent in 2012-2014 but raised to 18 per cent in 2015-2017. The company also is required to have sinking fund paid on August 31 in 2009 and Sept. 15 in 2009, the newspaper Bisnis Indonesia said. (ANTARA) lm |