Jan 30, 2012

Arpeni to pay bond interest & buyback

Shipping company PT Arpeni Pratama Ocean Line Tbk (APOL), that is controlled by Oentoro Surya, a younger brother of Hadi Surya, owner of tottering PT Berlian Laju Tanker Tbk (BLTA), plans to pay bond interests and installment of fee for ijarah MTN syariah.
Arpeni scheduled to pay interest of bond II A series/2008 worth Rp4.86 billion on January 31 2012 and Rp5.68 billion of interest of bond II B series/2008. The company also plans to buyback A series of Rp1 billion and Rp2.50 billion for B series.
Bond holders of both series will deserve to receive restructuring fee of Rp1.38 billion for A series and Rp1.61 billion B series.
For those bond holders who have agreed with the proposed buyback, they won't receive any interest payment. Post the buybacks, Arpeni still has Rp275 billion A series bond and Rp321.50 billion B series bond.
Arpeni also plans to make installmet fee for MTN syariah ijarah of Rp3.76 billion and restructuring fee of Rp750 million. The company will pay installment fee and restructuring fee on January 31 2012.

Disclosure: No position at the stock mentioned above.

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