antam-repays-bond-early

Antam repays bond early

The Indonesian mining company will repay a bond earlier than planned due to higher withholding tax rate.
Antam Tbk plans to repay holders of the outstanding notes issued by Antam Finance Limited AFL in 2003 on December 29 this year, earlier than planned due to a higher than expected withholding tax rate.

The AFL bond will be repaid at par and bond holders will receive the accrued and unpaid interest since the last coupon payment on September 30, 2006. The bonds were due for repayment on September 30, 2010 and could be recalled early on the date of every semi-annual coupon payment beginning from September 30, 2007. However, Antam will recall the remaining $171 million of bonds 10 months earlier than planned due to the cancellation of the Avoidance of Double Taxation...
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