PP Presisi Issued IDR 202.98 Billion Bonds

Illustration. (Photo: Doc. Antara)

JAKARTA - On July 1, 2022, PT PP Presisi Tbk (PPRE) issued a Continuous Public Offering of Bonds I Phase I Year 2022 and were officially listed on the PT Indonesia Stock Exchange (IDX) with a value of Rp202.98 billion.

The Company's Bonds Phase 1 consists of Two Series consisting of Series A with a Bond Principal Amount offered of Rp102.27 billion, with a fixed bond interest rate of 9.50 percent per year with a bond term of 3 years from the date of issuance or until June 30 2025.

Series B with Bond Principal Amount offered is Rp100.70 billion with an interest rate of 10.50 percent per year with a bond term of 5 years, namely on June 30, 2027.

"The company has carried out a rating by PT Pemeringkat Efek Indonesia (Pefindo) with the results of a rating on the idBBB+ (triple B Plus) bonds based on data and information from the Company as well as the Company's Financial Statements as of December 31, 2021 which has been audited by the Public Accounting Firm, where the allocation 70% of the funds will be used for Capital Expenditure in the form of additional heavy equipment to support mining service projects and civil work projects and 30% will be used for the Company's working capital," said PP Presisi President Director, Rully Noviandar, in a statement, Tuesday, July 5 .

In this bond, PPRE has appointed three securities companies as Underwriters for Underwriters (PPE) or Joint Lead Underwriters (JLU), namely PT BNI Sekuritas, PT BRI Danareksa Sekuritas, PT CIMB Niaga Sekuritas, while for other Supporting Professions, PPRE appointed PT Bank Rakyat Indonesia as Trustee, Jusuf Indradewa & Partner as Legal Consultant, Ir. Nanette Cahyanie Handari Adi Warsito, SH as Notary.

"This bond offering demonstrates our commitment to increasing engineering capacity to support mining service projects and civil works as well as investor confidence in our company in realizing a management strategy for sustainable growth and a financial strategy that refers to risk-based principles," said Rully.