BRI Danareksa Sekuritas Becomes Guarantee Of Bond Emission IIF

Photo: Doc. Antara

JAKARTA - PT BRI Danareksa Sekuritas (BRIDS) has been officially appointed as one of the underwriters for the issuance of Phase II Sustainable Bonds PT Indonesia Infrastructure Finance (IIF).

BRIDS Investment Market Director Kevin Pratryawan said the bonds were targeting a fundraising target of IDR 500 billion which was divided into three series, with indicative coupons of up to 7.25 percent and tenors of up to 5 years.

"It is known that 60 percent of the proceeds from bond issuance will be used to strengthen IIF's working capital and financing of commercially feasible infrastructure projects, by implementing international standards in social and environmental aspects to ensure the sustainability of infrastructure development in Indonesia," Kevin said through an official statement in Jakarta, quoted from Antara, Wednesday, November 29.

Kevin revealed that IIF is one of the non-bank financial institutions in Indonesia that has a focus on building sustainable infrastructure development in Indonesia with increasing net income.

This is reflected in the company's average annual growth rate (CAGR) in the last 3 years of 73.1 percent.

"IIF as a company that prioritizes social responsibility and sustainable development, coupled with a solid rating, namely triple A from Pefindo and also attractive bond coupons, makes us optimistic that the issuance of these bonds can be absorbed properly by retail investors or institutions in the Capital Market," said Kevin.

For information, the 3 series of fund raising will consist of Series A for tenor 370 calendar days with an offering coupon range of 6.25 percent to 6.95 percent, Series B with a tenor of 3 years with an offering coupon range of 6.60 percent to 7.10 percent, and Series C with a tenor of 5 years with an offering coupon range of 6.75 percent to 7.25 percent.

Furthermore, the line of bond issuance starts with the initial offering period (bookbuilding) on November 22, December 5, 2023, then the public offering period is planned to take place on December 15 - 18, 2023, with the allotment being carried out on December 19, 2023, and followed by an electronic distribution date (emission) on December 21, 2023. The listing on the Indonesia Stock Exchange (IDX) will be made on December 22, 2023.

For information, PT BRI Danareksa Sekuritas is a company engaged as an intermediary for securities trading, underwriters for securities and financial advisors, which is a subsidiary of PT Bank Rakyat Indonesia (BRI) and an association entity from Holding BUMN Danareksa.