Targeting IDR 15 Trillion Funds From Bonds And Sukuk, Indosat Issues IDR 2.5 Trillion First Phase

President Director and CEO of Indosat Ooredoo Hutchison, Vikram Sinha. (Photo: Doc. Indosat)

JAKARTA - PT Indosat Tbk is seeking funding of up to Rp15 trillion. The funds came from Indosat's Shelf-Registered Bonds IV of Rp. 10.5 trillion and Indosat's Sukuk Ijarah IV of Rp. 4.5 trillion.

However, the plan will be carried out in stages. For the first phase, the company issued IDR 2.5 trillion consisting of IDR 1.75 trillion bonds and IDR 750 billion Sukuk ijarah.

"The issuance of bonds and Sukuk ijarah is part of the company's long-term plan to enlarge and diversify its funding sources to support the Company's business development. We believe this will have a positive impact on the Company in the future," said Indosat Ooredoo President Director and CEO Hutchison Vikram Sinha in a virtual press conference quoted by Antara, Thursday 15 September.

In this debt issuance plan, the book building process will take place on September 14 and end on September 27, 2022. The effective statement from the Financial Services Authority (OJK) is expected to be received on October 17, 2022, and bonds and Sukuk ijarah will be listed on the Stock Exchange. Indonesia (IDX) on 27 October 2022.

"The proceeds from the issuance of the bonds and Sukuk Ijarah after deducting the issuance costs will be used to pay off the Company's debts and fees for the right to use the radio frequency spectrum in rupiah," said Vikram.

In the issuance of these bonds and Sukuk ijarah, Indosat is supported by the main underwriting team, which consists of PT BCA Sekuritas, PT CIMB Sekuritas Indonesia, PT DBS Vickers Sekuritas Indonesia, PT Indo Premier Sekuritas, PT Mandiri Sekuritas, PT BRI Danareksa Sekuritas and PT Trimegah. Securities Indonesia Tbk.