Clarification on Medium Term Notes (I)
Updated: 2 days ago
In connection with the circulating news on the media concerning Medium Term Notes issued by Oligo. Oligo hereby clarifies that Oligo is not in breach of contract with respect to the said MTN.
The MTN Holder, PT Ekuator Kapital Asia (EKA) as the party to receive interests from the MTN has submitted its notification to Oligo on March 2020 that it is unable to receive interests payment via KSEI. The parties agrees that the default payment is not due to failure from Oligo, and sebsequently EKA has agreed to waive Oligo from any liabilities arising from this incident.