{
    "success": true,
    "data": {
        "id": 1425387,
        "msgid": "astra-offers-upfront-payment-1447893297",
        "date": "1999-02-16 00:00:00",
        "title": "Astra offers upfront payment",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Astra offers upfront payment JAKARTA (JP): Publicly-listed PT Astra International's Chief Executive Officer Rini Suwandi announced Monday the company would provide an upfront payment equivalent to three months' interest to creditors. The offer was contained in a new proposal to the company's credit committee and creditors made in a concerted bid to reach an agreement and push its debt restructuring process to move faster.",
        "content": "<p>Astra offers upfront payment<\/p>\n<p>JAKARTA (JP): Publicly-listed PT Astra International's Chief<br>\nExecutive Officer Rini Suwandi announced Monday the company would<br>\nprovide an upfront payment equivalent to three months' interest<br>\nto creditors.<\/p>\n<p>The offer was contained in a new proposal to the company's<br>\ncredit committee and creditors made in a concerted bid to reach<br>\nan agreement and push its debt restructuring process to move<br>\nfaster.<\/p>\n<p>Earlier on Friday, Astra said it would buy back US$1.17<br>\nbillion in unsecured debts to its foreign creditors at 30 percent<br>\nof the face value and had set aside $45 million for the buyback<br>\nprogram.<\/p>\n<p>Rini added in a statement on Monday that the upfront interest<br>\npayments will be disbursed at certain milestones whereby 25<br>\npercent of the total will be paid after the debt buyback program<br>\nis finished on March 12, another 25 percent when the commercial<br>\nterms are agreed and the remaining 50 percent at the final<br>\nclosing.<\/p>\n<p>Astra, Rini added, would also accelerate the process of asset<br>\nsales to support its debt restructuring program.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/astra-offers-upfront-payment-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}