JAKARTA - The state-owned construction company PT Adhi Karya (Persero) Tbk (ADHI) plans to issue bonds worth Rp3.75 trillion. This bond is part of the ongoing bonds III with a target fund of IDR 5 trillion.
Citing the company's offering document released today (Tuesday 17 May), Adhi Karya divided the three series of bonds. Among them, series A Rp1.29 trillion with an interest rate of 8.25 percent for three years.
Then series B Rp667.5 billion with 9 percent interest with a period of five years. And series C Rp1.79 trillion with an interest of 10.2 percent for a period of seven years.
These bonds will start to be offered today until May 19, with a target listing on the Indonesia Stock Exchange (IDX) on May 25.
In detail, Adhi Karya explained, the use of bond funds consisted of Rp. 2.8 trillion for the repayment of the principal of continuous bonds II phase I in 2017. While the rest was for the company's working capital.
"The company's working capital referred to in the plan to use the bond issuance funds is to fund toll road projects, railways, buildings, energy and industry, and other infrastructure projects," Adhi Karya's management wrote.
As additional information, in the issuance of this bond, Adhi Karya has appointed BRI Danareksa Sekuritas, Indo Premier Sekuritas, Mandiri Sekuritas, Samuel Sekuritas Indonesia, Korea Investment & Sekuritas Indonesia, Shinhan Sekuritas Indonesia and Sucor Sekuritas as underwriters for the bond issuance.
Meanwhile, PT Bank Mega Tbk will act as the trustee of this bond.
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