Bonds Listed On The Stock Exchange, Sinar Mas Agro Owned By Conglomerate Eka Tjipta Widjaja Officially Raises IDR 1.5 Trillion In Funds

JAKARTA - Filma cooking oil producer PT Sinar Mas Agro Resources and Technology Tbk (SMAR), earned Rp 1.5 trillion in funds. The funds will come from the issuance of continuous bonds IV phase I in 2022.

The bonds will be listed on the Indonesia Stock Exchange (IDX) today (Thursday 7 July).

Quoting BEI's statement, the bonds belonging to conglomerate Eka Tjipta Widjaja are divided into three series. Among them, series A Rp560 billion with an interest rate of 4.75 percent.

Then series B Rp538 billion with 7 percent interest. And series C Rp402 billion with 8 percent interest.

These bonds are rated idAA- (double A minus) from PT Pemeringkat Efek Indonesia (Pefindo). As for acting as trustee in this issuance is PT Bank Mega Tbk.

For information, the proceeds from the bond issuance, the company uses all of it for the payment of part of the principal of long-term bank loans and the repayment of the principal of continuous bonds III phase II in 2021 series A and continuous bonds III phase III in 2022 series A which will mature.