Jakarta - PT Buana Lintas Lautan Tbk (BULL) plans to issue a maximum of US$400 million in debt securities.

Based on the company's disclosure of information submitted to the IDX, Monday (6/9), these debt securities will be guaranteed by a company guarantee issued by BULL and also guaranteed by other guarantees.

The proposed transaction value exceeds the material transaction value limit, which is more than 50% of BULL's equity value or equivalent to 114.28% of BULL's recorded equity value of US$350,032 million.

The company will use proceeds obtained from the issuance of these debt securities to pay off the debts of BULL or business entities or as working capital.

The debt securities issuance can increase BULL's liquidity and extend the maturity period of BULL's debt in the long term. This transaction can also improve BULL's capital structure and strengthen the company's financial position.

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