JAKARTA - PT Medco Energi Internasional Tbk will conduct a Shelf-Registered Public Offering (PUB) of Shelf-Registered Bonds IV with a target of raising funds to reach Rp5 trillion. As a start, issuers with the stock code MEDC will offer Shelf-Registered Bonds IV Phase I Year 2021 with a maximum principal amount of IDR 1 trillion.

In Medco Energi's information disclosure, quoted on Friday, August 20, after deducting issuance costs, all funds will be used to pay off three bonds maturing in 2022. In total, the three bonds have a principal value of Rp906 billion.

First, Medco Energi Internasional Shelf-Registered Bonds II Phase IV Year 2017 Series B amounting to Rp1 billion. Second, Medco Energi Internasional Shelf-Registered Bonds II Phase V Year 2017 Series C amounting to Rp753.5 billion. Third, Medco Energi Internasional Shelf-Registered Bonds II Phase VI Year 2017 Series B amounting to Rp151.5 billion.

Furthermore, the remaining proceeds from the bond issuance will be used by the company owned by the conglomerate Arifin Panigoro as working capital to support the company's daily operations. This includes but is not limited to payment requirements to vendors on company-owned assets.

There are two series of bonds to be issued, namely Series A with a tenor of 36 months and Series B with a tenor of 60 months. Regarding the target fund for each series as well as the fixed interest rate, MEDC will announce it further.

The bond interest will be paid every three months from the issuance date, which is September 9, 2021. Thus, the first bond interest payment will fall on December 9, 2021.

Meanwhile, the last interest payments coincide with the maturity of each series, namely September 9, 2024 for Series A and September 9, 2026 for Series B.

The initial offering period for these bonds will take place from 19-26 August 2021. Then, the estimated effective date is 31 August 2021 and the public offering period is 2-6 September 2021. Furthermore, these bonds will be listed on the Indonesia Stock Exchange on 10 September 2021.

The bonds are rated A+ (Single A Plus) from PEFINDO. PT DBS Vickers Sekuritas Indonesia, PT Mandiri Sekuritas, and PT Trimegah Sekuritas Indonesia Tbk acted as underwriters for the bond issuance. Meanwhile, the trustee is PT Bank Rakyat Indonesia (Persero) Tbk.


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