PT Bakrie Sumatera Plantations Tbk, producer crude palm oil and rubber, plans to settle its equity-linked debt worth US$600,000, by using its shares collected from the market in recent buyback.
Bakrie Plantations has 6.4 million shares, equals to 0.045% of its total paid in and issued capital, obtained from the buyback. The shares may be used to settle part of its equity-linked debt amounted to US$199 million that will due in 2017.
In accordance with the agreement, debtholders have option to demand Bakrie Plantations to settle the debt by paying cash, company's share or combination between cash and share.
Regarding to the matter, Credit Suisse (USA) LLC as the major note holder on September 12, 2011 officially demanded Bakrie Plantations to settle the debt with company’s share.
Therefore, the Bakrie group-controlled company will have to transfer 6.1 million unit of recent buyback shares to the financial house.
The transaction must be conducted within 14 days since the information disclosure released, with price of IDR347.02. It's slightly higher than buyback price at IDR327.29 per share.
The listed plantation company booked IDR408.78 billion attributed net profit in the first half of 2011, from IDR35.24 billion on the same period last year.
Revenue booked at IDR2.3 trillion, doubled from IDR1.13 trillion, while operating profit rose 101.17% to IDR654.1 billion fromIDR325.13 billion.
Narrower liabilities such as smaller interest expenses amid higher interest income led to company’s profit before tax rose 378.66% to IDR546.44 billion in the first six months from IDR114.15 billion on the same period last year.
Bakrie Plantations has 6.4 million shares, equals to 0.045% of its total paid in and issued capital, obtained from the buyback. The shares may be used to settle part of its equity-linked debt amounted to US$199 million that will due in 2017.
In accordance with the agreement, debtholders have option to demand Bakrie Plantations to settle the debt by paying cash, company's share or combination between cash and share.
Regarding to the matter, Credit Suisse (USA) LLC as the major note holder on September 12, 2011 officially demanded Bakrie Plantations to settle the debt with company’s share.
Therefore, the Bakrie group-controlled company will have to transfer 6.1 million unit of recent buyback shares to the financial house.
The transaction must be conducted within 14 days since the information disclosure released, with price of IDR347.02. It's slightly higher than buyback price at IDR327.29 per share.
The listed plantation company booked IDR408.78 billion attributed net profit in the first half of 2011, from IDR35.24 billion on the same period last year.
Revenue booked at IDR2.3 trillion, doubled from IDR1.13 trillion, while operating profit rose 101.17% to IDR654.1 billion fromIDR325.13 billion.
Narrower liabilities such as smaller interest expenses amid higher interest income led to company’s profit before tax rose 378.66% to IDR546.44 billion in the first six months from IDR114.15 billion on the same period last year.
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