Profesional Telekomunikasi Indonesia, also known as Protelindo, a telecommunication tower operator owned by the Djarum Group, plans to sell Rp 1.5 trillion ($115 million) worth of bonds on Nov.17-18, the company said in a statement on Friday (21/10). (Antara Photo/Joko Sulistyo)

Tower Bersama Plans Rp 1t Dividend, Share Buyback in 2016

BY :FARID FIRDAUS

NOVEMBER 24, 2015

Jakarta. Tower Bersama Infrastructure, a telecommunication tower operator, plans to give back Rp 1 trillion ($73 million) to shareholders next year through dividends or share buyback, after securing long term contract which leaves the company with extra cash.

"The company’s infrastructure business provides steady income,” Tower Bersama’s chief operating officer Hardi Wijaya Liong said on Monday.

“It grows in line with the expansion leading mobile operators as we secure contract guarantee for 10 years and enough to pay for all our debts,” Hardi said.

Tower Bersama earlier this month secured a $275 million 5-year loan from 10 banks to pay off existing debts due this month.

Earlier this year it raised $350 million from issuing bond due in 2022 and pays 5.25 percent coupon.

Shares closed at Rp 6,600 a piece at the Indonesia Stock Exchange on Monday, up 1.54 percent in contrast with the 0.4 percent decline in the composite index.

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