JAKARTA - PT Wijaya Karya (Persero) Tbk (WIKA) managed to reap funds of Rp4.25 trillion from two debt securities issuances. Each of them is Shelf-Registered Bonds (PUB) II Phase II Year 2022 of IDR 2.5 trillion and Shelf-Registered Sukuk Mudharabah II Phase II of 2022 IDR 1.75 trillion.
In fact, according to the President Director of Wijaya Karya, Agung Budi Waskita, the company recorded 1.5 times oversubscribed on the two notes.
Agung said that this record indicates a high level of investor confidence in the company's performance, which can survive in the midst of the COVID-19 pandemic and remains optimistic that it will continue to grow in the future.
PUB II WIKA Phase II is a strategic step for the Company to improve debt profiling and provide working capital for the Company.
"Funds obtained through bonds will be used to convert short-term loans into long-term loans so that by the characteristics of the company's projects, the majority of which are multi-year projects. Thus, the company's debt ratio is maintained in a healthy condition", Agung explained in a written statement, quoted by Antara on Tuesday, February 22.
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In line with that, the funds obtained from the Sukuk will be used for working capital for infrastructure and building projects by sharia principles in the capital market.
"With this additional working capital, the company has wider space to complete projects as well as the opportunity to get new projects", concluded Agung.
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