Waskita Settles IDR 722 Billion Bond Principal
PT Waskita Karya (Persero) Tbk has fulfilled its principal obligation for the 2021 Series A Bonds of PT Waskita Karya (Persero) Tbk, valued at IDR 722 billion, which was due on 24 September 2026. This fulfilment was carried out through a guarantee mechanism in accordance with the provisions set out in the guarantee agreement.
The payment of claims was executed by the Government and PT Penjaminan Infrastruktur Indonesia (Persero)/PII according to their respective guarantee portions. Waskita Karya’s Corporate Secretary, Steven Subiantoro, stated that the company’s bond interest payment obligations have also been met. The company, listed under the stock code WSKT, continues to coordinate with all relevant parties to ensure the entire fulfilment process is conducted according to applicable regulations.
“We are committed to ensuring that the process of fulfilling obligations to bondholders proceeds according to the established mechanism. The implementation continues to prioritise good corporate governance and maintaining the continuity of the Company’s operational activities,” Steven said in an official statement on Tuesday (29/9/2026).
The guarantee for Waskita Karya’s 2021 Series III Bonds is part of the Government’s guarantee scheme under the National Economic Recovery Program for SOEs affected by the COVID-19 pandemic, which was established at the time of the bond issuance. Under this scheme, the Government and PT PII act as Guarantors according to the proportions and provisions in the guarantee agreement.
Previously, Waskita Karya had notified the Guarantors and the Bondholders’ Representative regarding the Company’s inability to meet its obligations. In accordance with the mechanism in the guarantee agreement, the Bondholders’ Representative, acting as the Secured Party, subsequently filed claims with the Guarantors.
Following a process of verification and fulfilment of requirements, the payment of claims was executed based on each guarantor’s respective portion.
“The guarantee claims have been paid and distributed through the applicable mechanism, ensuring that bondholders have received the principal payment. We appreciate the Government and PT PII for the execution of the guarantee mechanism in accordance with the applicable provisions and agreements,” said Steven.
The payment of these guarantee claims does not discharge Waskita Karya’s underlying obligation. The Company’s obligation to the Guarantors will subsequently be settled in accordance with the right of recourse mechanism and applicable regulations.
Steven noted that moving forward, Waskita Karya remains focused on recovering its core operational activities and strengthening the Company’s financial condition, including focusing on its core business as a contractor in line with the strategic direction of its shareholders. The Company will also continue to coordinate with stakeholders to support the process of recovery and business sustainability.