Investors Please Be Prepared! Chandra Asri Owned By Conglomerate Prajogo Pangestu Starts Initial Offering Period Of IDR 2 Trillion Bonds

Chandra Asri Petrochemical. (Photo: Doc. Antara)

JAKARTA - PT Chandra Asri Petrochemical Tbk (TPIA) has started a plan to issue sustainable bonds with a target fund of IDR 8 trillion. For the first phase, the petrochemical company owned by conglomerate Prajogo Pangestu will issue bonds of IDR 2 trillion.

In the offering document issued by the company, Wednesday, July 13, the bonds are planned to be divided into three series. Starting with a term of 5 years, 7 years, and 10 years.

However, in the document, Chandra Asri has not determined the amount of interest offered to investors.

Meanwhile, the new company will start the initial offering period today (Thursday, July 14) until July 20, to then obtain the effective permit to issue bonds on July 29.

After that, Chandra Asri held a public offering period from August 2-4, until finally listing these bonds on the Indonesia Stock Exchange (IDX).

From the issuance of these bonds, the funds obtained by Chandra Asri will be used for working capital purposes. This includes the purchase of raw materials for production, to the operational costs of business activities.

As additional information, the company has appointed BCA Sekuritas, BNI Sekuritas, BRI Danareksa Sekuritas, DBS Vickers Sekuritas Indonesia, and Mandiri Sekuritas as underwriters for the bond issuance.