JAKARTA - PT Waskita Karya Realty (WKR), a subsidiary of PT Waskita Karya (Persero) Tbk (WSKT), is restructuring  its Medium Term Notes (MTN) III with PT BPD Jawa Barat dan Banten Tbk (BJBR).

In the information disclosure quoted Thursday (30/5), Ermy Puspa Yunita, SVP Corporate Secretary of WSKT, mentioned that the company and BJBR have agreed upon the fourth addendum of the Monitoring Agency Agreement of MTN on May 27. “The change of clauses is related to the payment of MTN principal and MTN buyback that could be paid in cash by the company, or by transferring WKR’s shares on MTN the due date of principal payment,” she explained.

According to Yunita, the addendum of this MTN issuance agreement will improve WKR’s financial condition.

As is known, 99.9% of WKR are known to be controlled by WSKT. WKR issued MTN Year 2022 worth IDR 475 billion through a private placement, according to Monitoring Agency Agreement dated August 24, 2022. This facility is equipped with an interest rate of 12.1% per annum, which is used as working capital and refinancing of accounts payables. (LK/ZH)