{
    "success": true,
    "data": {
        "id": 1431595,
        "msgid": "astra-international-offers-to-return-45-million-to-creditors-1447893297",
        "date": "1999-01-29 00:00:00",
        "title": "Astra International offers to return $45 million to creditors",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Astra International offers to return $45 million to creditors JAKARTA (JP): Publicly listed PT Astra International said Thursday it has offered to spend up to US$45 million to buy back some of its $1.17 billion in unsecured debts. \"This program is the next major step of Astra International's debt restructuring program,\" the company said in a statement.",
        "content": "<p>Astra International offers to return $45 million to creditors<\/p>\n<p>JAKARTA (JP): Publicly listed PT Astra International said<br>\nThursday it has offered to spend up to US$45 million to buy back<br>\nsome of its $1.17 billion in unsecured debts.<\/p>\n<p>\"This program is the next major step of Astra International's<br>\ndebt restructuring program,\" the company said in a statement.<\/p>\n<p>To fund the debt repurchase program, Astra International will<br>\nprovide $45 million although Astra has the right to increase or<br>\ndecrease this amount prior to the purchase price announcement on<br>\nFeb. 12, it added.<\/p>\n<p>Astra, Indonesia's largest automobile producer with sizable<br>\nstakes in diverse sectors, including agro-industry, invited all<br>\nunsecured non-trade related creditors, including bond holders to<br>\nsubmit their indicative non-binding bids between Jan. 28 and Feb.<br>\n10.<\/p>\n<p>The statement said total outstanding debt obligations eligible<br>\nto be offered for purchase amounted to around $1.17 billion,<br>\nbased on an exchange rate of Rp 10,700 to the dollar, as quoted<br>\nby the central bank (Bank Indonesia) on Sept. 30.<\/p>\n<p>\"But under this program, no debt obligations will be purchased<br>\nby Astra if the price exceeds 25 percent of the face value of the<br>\ndebt obligations,\" the company added.<\/p>\n<p>Outstanding unsecured non-trade related debt services and<br>\nindebtedness included in the repurchase program are: $125 million<br>\nin convertible bonds due in 2006, $125 million in notes due in<br>\n2001, $200 million in guaranteed bonds due 2003, Rp 400 million<br>\nin bonds due in 2002.<\/p>\n<p>Any non-trade indebtedness Astra owes to its creditors and<br>\ndocumented under bilateral or syndicated banking facilities,<br>\ninter-company loan agreements or  promissory notes can also take<br>\npart in the program, Astra said.<\/p>\n<p>The Astra Group has a total $2 billion in foreign-debt<br>\nobligations and local-currency debt of about Rp 2 trillion. (vin)<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/astra-international-offers-to-return-45-million-to-creditors-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}