Paying Two Debts That Will Be Matured, Global Mediacom Owned By Conglomerate Hary Tanoesoedibjo Releases IDR 1.2 Trillion Bonds And Sukuk

Mediacom Global Management. (Photo: Doc. Global Mediacom)

JAKARTA - The MNC Group company belonging to the conglomerate Hary Tanoesoedibjo PT Global Mediacom Tbk (BMTR) is preparing a corporate action to refinance several debt securities that will mature this year. The trick is to re-issue new debt securities.

Citing company documents, Monday 27 June, Global Mediacom plans to issue bonds and sukuk with a total value of IDR 1.2 trillion. This amount consists of continuous bonds III phase I IDR 700 billion and sustainable sukuk ijarah III phase I IDR 500 billion.

The bonds are part of Global Mediacom's sustainable bonds III with a target fund of IDR 1.3 trillion. Meanwhile, the sukuk are part of Global Mediacom's third sustainable sukuk ijarah with a target fund of IDR 900 billion.

In detail, continuous bonds III phase I will be divided into three series. Among them are series A Rp312.67 billion with 8.5 percent interest, series B Rp217.82 billion with 10 percent interest, and series C Rp169.5 billion with 11 percent interest.

Meanwhile, the third phase I continuous sukuk ijarah are also divided into three series. Among other things, series A Rp220.16 billion with Rp18.71 billion ijarah installments, Rp269.63 billion series B with Rp26.96 billion ijarah installments, and Rp10.21 billion series C with Rp1.12 billion ijarah installments.

In accordance with the previous explanation, the proceeds from the bonds and sukuk will be used to refinance maturing debt securities. One of them is continuous bonds I Phase I 2017 series A worth IDR 804.8 billion with an interest of 11.5 percent which will mature on July 7, 2022.

Likewise, the sukuk that will be used to pay off the 2017 series A continuous Ijarah Ijarah Sukuk I of Rp213.05 billion with an installment of Rp12.73 billion will mature on July 7, 2022.

As for the issuance of bonds and sukuk this time, the company received a statement that it was effective on June 24 with an offering period of June 27-30 to be listed on the Indonesia Stock Exchange (IDX) on July 6, 2022.

For additional information, Global Mediacom appointed MNC Sekuritas, Bahana Sekuritas, Sucor Sekuritas, BRI Danareksa Sekuritas, and Shinhan Sekuritas Indonesia as the underwriters for the issuance of bonds and sukuk ijarah.