JAKARTA - PT Chandra Asri Petrochemical Tbk (TPIA) will issue Shelf-Registered Bonds III Chandra Asri Petrochemical Phase IV Year 2021. The principal amount of bonds to be issued by the company owned by conglomerate Prajogo Pangestu is IDR 1 trillion.
In an information disclosure on the Indonesia Stock Exchange (IDX) website, quoted on Wednesday, October 13, the bonds consist of three series, namely Series A, Series B, and Series C Bonds, each of which is offered at 100 percent of the total Bond Principal. These bonds were issued scripless except for the Jumbo Bond Certificates which were issued in the name of KSEI.
The bonds provide options for the public to choose a series of bonds, with details as follows:
- Series A: The principal amount of the Series A Bonds offered is IDR 266.95 billion with a fixed interest rate of 7.20 percent per year. The term of the Series A Bonds is 5 years from the Issuance Date.
- Series B: The principal amount of the Series B bonds offered is IDR 581.50 billion with a fixed interest rate of 8.20 percent per year. The term of the Series B Bonds is 7 years from the Issuance Date.
- Series C: The principal amount of the Series C Bonds offered is Rp. 151.55 billion with a fixed interest rate of 9.00 percent per year. The term of the Series C Bonds is 10 years from the Issuance Date
"The net funds obtained by the Company from the proceeds of these bonds, after deducting commissions, costs, and expenses, will be used entirely for working capital purposes," said Chandra Asri Petrochemical's management statement.
As for the acting underwriters of bond issuance and bond underwriters, PT BCA Sekuritas, PT BNI Sekuritas, PT Shinhan Sekuritas Indonesia, and PT Sinarmas Sekuritas.
To comply with the provisions of POJK No. 7/2017 and POJK No. 49/2020, the company has carried out a rating carried out by Pefindo. Based on the rating results of long-term debt securities in accordance with Pefindo's letter No. RTG-097/PEF-DIR/IX/2021 dated September 24, 2021, Pefindo has assigned a rating for the Bonds, namely idAA-(Double A Minus), where the rating is valid for the period from June 2, 2021 to June 1, 2022.
The following is the schedule for the issuance of Chandra Asri Petrochemical Phase IV Shelf-Registered Bonds III 2021:
- Effective Date: August 13, 2020
- Public Offering Period: 22 - 26 October 2021
- Allotment Date: 27 October 2021
- Order Refund Date: 29 October 2021
- Bond Distribution Date Electronically: October 29, 2021
- Listing Date on IDX: November 1, 2021
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