PT Soechi Lines Tbk (SOCI), through Soechi Capital Pte. Ltd has started the bidding process for global bond buyback (tender offer) of a maximum of US$20 million.

This global bond has an interest rate coupon of 8.375% per year and will mature in 2023.

Together with Soechi Capital and Standard Chartered Bank (Singapore) Limited, the company has signed a Dealer Manager Agreement for the international bond buyback plan purpose.

The tender bidding process will end on April 1, 2021 (unless it is extended or completed earlier).

"This transaction plan is expected to support the company's and/or its subsidiaries' business activities in the long term, both in terms of operational activities, financial conditions, and business continuity," said Soechi's Corporate Secretary, Paula Marlina, in the IDX disclosure, on Tuesday (30/3 ).