JAKARTA. PT Info Media Digital (IMD), a subsidiary of PT Tempo Inti Media Tbk (TMPO), has secured an investment financing facility of IDR 21.18 billion from Media Development Investment Fund (MDIF).

The financing was received by IMD in the form of Convertible Performance Debenture (CPD). "The bond has a maturity date set to December 31, 2028," added Jajang Jamaludin, Corporate Secretary of TMPO, in the official disclosure.

It is worth mentioning that the conversion of CPD will take place once IMD conducts its Initial Public Offering (IPO), which is scheduled to be held within 2-4 years in the future, whilst still considering ideal market condition. "If IMD decided not to proceed with IPO, IMD will record the CPD as payables," said Jamaludin in the information disclosure. 

For the record, IMD is TMPO's subsidiary that runs several digital channels, including Tempo.co, Tempo TV, Tempo Data Science, Tempo Institute, and Kok Bisa?.

TMPO expects this funding will raise operational capacity of IMD through strengthened working capital, completion of ongoing projects, and support for business expansion to a more strategic segment. In addition, this facility is expected to reinforce IMD's capital structure. (KR/ZH)