PTPP Releases Continuous Public Offering Of Bonds And Sukuk, Target Fund Raised Rp4 Trillion

PTPP President Director Novel Arsyad. (Photo: Doc. PTPP)

JAKARTA - The state-owned construction company, PT PP (Persero) Tbk, took a corporate action in the context of the Shelf-Registered Public Offering of Shelf-Registered Bonds III and Shelf-Registered Public Offering of Shelf-Registered Sukuk Mudharabah I.

The overall target of funds raised by PTPP from this action is Rp 4 trillion, consisting of Shelf-Registered Bonds III of Rp. 3 trillion and Shelf-Registered Sukuk Mudharabah I of Rp. 1 trillion. The Sustainable Public Offering was presented in a virtual Investor Gathering held by PTPP on Wednesday 9 June.

The event was also attended by President Director Novel Arsyad, Director of Finance & Risk Management Agus Purbianto, Director of Corporate Strategy & HCM Sinur Linda Gustina, Director of Operations for EPC Eddy Herman Harun, Director of Operations for Infrastructure Yul Ari Pramuraharjo, and supporting institutions or professions. .

The Shelf-Registered Public Offering (PUB) of the IDR3 trillion Shelf-Registered Bonds III will be carried out in two stages. In this first stage, PTPP will conduct a Shelf-Registered Public Offering of PTPP III Phase I Year 2021 Shelf-Registered Bonds with a maximum bond principal of IDR 1.5 trillion.

The PUB is divided into 2 (two) Series, namely Series A for a period of three years with an indicative coupon of 8.25-9.25 percent and Series B for a period of five years with an indicative coupon of 8.75-9.75 percent. This Shelf-Registered Bond has received an idA (Single A) rating from PT Pemeringkat Efek Indonesia (Pefindo).

The funds raised will be allocated 69 percent for refinancing and 31 percent for the company's working capital. Meanwhile, the remaining PUB Shelf-Registered Bonds III amounting to Rp1.5 trillion will be offered by PTPP in the second phase.

Along with the PUB for Sustainable Bonds, PTPP also conducted the Public Offering of Sustainable Sukuk Mudharabah I PTPP (Sustainable Sukuk) with a target fund raised of Rp1 trillion.

In the Sustainable Sukuk offering, PTPP will issue and offer PTPP Phase I 2021 Sustainable Sukuk Mudharabah with a maximum amount of IDR 500 billion in Sukuk Mudharabah funds.

This Mudharabah Sukuk has received an idA(sy) (Single A Syariah) rating from Pefindo where the allocation of the use of the funds will be used entirely for the company's working capital. The remaining Rp500 billion of PUB Sustainable Sukuk I will be offered by PTPP in the second phase.

In carrying out this corporate action, PTPP has appointed four securities companies as Implementing Underwriters (PPE) or Joint Lead Underwriters (JLU), namely PT Mandiri Sekuritas, PT BRI Danareksa Sekuritas, PT BNI Sekuritas, and PT Samuel Sekuritas.

As for other Supporting Professions, PTPP has appointed PT Bank Pembangunan Daerah Jawa Barat and Banten Tbk (BJBR) as the Trustee, Ir. Nanette Cahyanie Handari Adi Warsito, SH as Notary, and Jusuf Indradewa & Partner as Legal Consultant in this corporate action.

PTPP will carry out a bookbuilding period starting from June 09 to June 16, 2021, where the public offering period is planned to be held on June 29, 2021 and the allotment plan is carried out on June 30, 2021. So it is estimated that the debt securities will be listed on the Indonesia Stock Exchange in July 5, 2021.

"All the funds raised in the issuance of the first phase of the PUB Sustainable Bonds and Sustainable Sukuk Mudharabah with a total of IDR 2 trillion will be used by PTPP to fund refinancing and the company's working capital," said PTPP President Director Novel Arsyad.