Tjiwi Kimia to pay interest late<\/p>\n
JAKARTA (Dow Jones): PT Pabrik Kertas Tjiwi Kimia, a unit of
\nfinancially troubled Asia Pulp & Paper Co. (APP), will make a
\nlate interest payment to its rupiah bondholders June 5, the
\ncompany said Thursday.<\/p>\n
\"We will make the payment on June 5,\" said Yan Partawidjaya,
\nspokesman of Asia Pulp & Paper, after a meeting with Tjiwi
\nKimia's bondholders.<\/p>\n
Last month, Tjiwi Kimia missed a Rp 8.9 billion (US$800,000)
\npayment on its Rp 200 billion bond, due to financial problems
\nbesetting its Singapore-based parent APP.<\/p>\n
APP's international creditors, which had called a debt
\nmoratorium on its $13 billion in borrowings earlier this year,
\nare concerned that Thursday's decision to pay interest to the
\nrupiah bondholders will make it more difficult for them to get
\ntheir money back.<\/p>\n
Tjiwi Kimia met Thursday with local bondholders, who also
\nasked the company to repay the remaining bonds on time in
\nNovember this year.<\/p>\n
\"This is a difficult request,\" Yan said, referring to the
\ncompany's poor financial position.<\/p>\n
He didn't give any figures, however.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/tjiwi-kimia-to-pay-interest-late-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }