JAKARTA - PT Petrosea Tbk (PTRO) issued sustainable bonds and sukuk Phase I in 2024 worth a total of IDR 1.5 trillion. The offering of bonds and sukuk each came from continued bonds I Petrosea Phase I of 2024 worth IDR 1 trillion and continued Sukuk ijarah I Petrosea Phase I of 2024 worth Ip500 billion.

The details of the offer of the two investment instruments are divided into four series, namely series A with a tenor of 367 days (coupon 6.50-7.00 percent), series B with a 3-year tenor (coupon 7.50-8.50 percent), series C for 5 years (count of 8.25-9.25 percent), and series D with a 7-year tenor (count of 8.75-10.00 percent).

The initial bidding process is scheduled to take place from 12 to 25 November 2024, and the listing on the Indonesia Stock Exchange will begin on December 16, 2024. Later, the funds obtained will be used as working capital.

Then, the effective date on December 6, 2024, allotment on December 11, 2024, payment from investors to Joint Lead Underwriters (JLU) on December 12, 2024, electronic distribution of bonds and sukuk on December 13, 2024, and debt securities on the Indonesia Stock Exchange on December 16, 2024.

Previously, after being acquired by PT Petrindo Jaya Kreasi Tbk (CUAN), PTRO had received a significant boost with an additional contract worth US$1.8 billion or around Rp28.38 trillion in the mining and Engineering, Procument, and Construction (EPC) sector.

"We expect this acquisition to contribute to strong growth in revenue in the coming years, while profit is projected to recover thanks to better operational leverage," said Sucor Sekuritas analyst Yoga Ahmad Gifari, Wednesday, November 13.

In addition, Yoga stated that PTRO in 2023 had secured a backlog so that this would result in revenue growth of 152 percent in the EPC segment to USD 747 million and 60 percent in the mining contract segment to USD 3.7 billion.

According to Yoga, another factor that is estimated to increase PTRO's revenue growth is assets that are still under development owned by CUAN.

"Assets that are in the development stage including coal, gold, copper, and silica, present promising potential improvements for PTRO because of its good position to secure new contracts when these assets start operating," said Yoga.

On the other hand, PT Pemeringkat Efek Indonesia (Pefindo) recently gave PTRO an A+ (stable outlook) rating. This reflects strong fundamentals, sustainable capital structure, and prudent capital expenditures over new contracts obtained.

Pefindo gave an idA+ rating with a stable outlook for PT Petrosea Tbk. The rating reflects Petrosea's strong business position, integrated service, and strong financial profile," Pefindo wrote.

With the issuance of these bonds and sukuk, PTRO shows its commitment to strengthening its financial structure as well as supporting its business expansion. This strategic step is expected not only to emphasize the position of PTRO in the mining industry and EPC in Indonesia, but also to be a signal of optimism for investors.


The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)