Pt Satria Antaran Prima announced that it has entered into a convertible bonds agreement with new investor GD Express Carrier Bhd (KLSE:GDEX) to issue 20 bonds at IDR 1,500,000,000 per bond for gross proceeds of IDR 30,000,000,000 on November 24, 2016. The bonds will be issued at par. The bonds are non-interest bearing and the conversion will represent 40% of the total issued and paid-up capital of the company.

The maturity of the bonds is five years from the issue date. The transaction has been approved by the investor's board of directors and does not require approval of its shareholders or any governmental authorities.