JAKARTA. PT Cikarang Listrindo Tbk (POWR), an independent electricity generator, will issue Notes with total principal of USD 500 million.

The issuance is categorised as a material transaction, as per the regulation of Financial Services Authority (OJK), due to total value exceeding 50% of total equity of POWR.

In the information disclosure, the management of POWR, mentioned that this bond issuance is meant to boost the company’s liquidity. With this extra cash on hand, the company may pay another security, which is Bond of 2026.

“The notes issuance by the company will be carried out through international offering to limited institutions or investors outside Indonesia, and will be listed on SGX-ST,” added the management of POWR.

Regarding this corporate action, POWR will hold Extraordinary General Meeting of Shareholders, which will be scheduled on November 22, 2024. (KR/ZH)