JAKARTA - PT Waskita Beton Precast Tbk (WSBP) has completed the debt restructuring
process for a number of creditors, including banks, vendors and obligors.

Asep Mudzakir, Director of Finance and Risk Management at PT Waskita Beton Precast Tbk (WSBP) said that the company had completed the first stage of installments related to the completion of debt restructuring. "On June 28, 2022, we received a homoligation agreementand on September 28, 2022, the restructuring began," he said.

According to him, restructuring is an asset for the company to gain the trust of creditors to obtain a better financial condition in the long term. This condition, he said, is an opportunity for the company to improve operations.

WSBP's debt restructuring to banking cluster creditors amounted to IDR 3.78 trillion over 17years. The scheme is fully paid in hindsight and will be paid in installments with interest rates instages 2, 3, and 4. Vendor creditors will be settled via the Cash Flow Available for Debt Service(CFADS) scheme, which is targeted to be completed five years after homoligation.

Furthermore, bondholder creditors will be settled through the company's internal cash settlement and at maximum in the 6th year and will be subject to 2% interest, while theremaining 85% will be converted into mandatory conversion bonds worth IDR 2.18 trillion. (LK/W)