JAKARTA. PT Waskita Karya (Persero) Tbk (WSKT) once again postpones the payment of bonds worth IDR 941 billion, following the current comprehensive review over master restructuring agreement (MRA).

Mursyid, President Director of Waskita Karya, confirmed that the company has yet to deposit funds to Indonesia Central Security Depository (KSEI) as the payment agent for the 18th, 19th, and 20th round of interest payment, as well as the principal of shelf-registration bonds phase three. 

According to Mursyid, the postponement is related to the ongoing comprehensive review over master restructuring agreement (MRA). "It is also in regard to the implementation of equal treatment, both towards bank creditors and bond creditors," he mentioned in the official statement addressed to Indonesia Stock Exchange (IDX) last Monday (2/10).

The deferred payment originates from Series B of Shelf-Registration Bonds III of Waskita Karya Phase III Year 2018. These bonds have an interest rate of 9.75% per annum, due on September 28, 2023.

Waskita had requested for relaxation of payment period. However, the suggestion to amend its agreement was denied during the General Meeting of Bondholders held in early September. (AM/ZH)