Tays Bakers Add Capital Through MTN Issuance Of IDR 31.46 Billion

Photo: Doc. Tays Bakers

JAKARTA - Snack producer brand Tricks, PT Jaya Swarasa Agung Tbk. (TAYS) or Tays Bakers added working capital through the issuance of a medium term note (MTN) worth US$2 million or equivalent to Rp31.46 billion.

Tays Bakers CEO Alexander Anwar explained that the issuance of MTN is a form of TAYS' commitment to ensure company financial stability in the medium term, as well as to support various company activities.

"This step is also a form of our dedication to providing more value to our stakeholders," he said in a press release, quoted Thursday, January 25.

The principal value of MTN is US$2 million or equivalent to Rp31,462,000,000 (Rp31.46 billion) assuming a middle rate of Rp15,731 per US dollar. MTN is issued with a tenor of 3 years and an interest rate of 4 percent per year, which will be paid every 6 months (semi-annual).

The funds from MTN will be used for working capital, which consists of, among others, for the purchase of raw materials, production auxiliary materials, fuel, packaging goods, and overhead costs. Acting as payment agent for MTN is PT Kustodian Sentral Efek Indonesia (KSEI) and the issuance executive is PT Aldiracita Sekuritas Indonesia.

"The issuance of MTN is one of the various investment preparations and working capital for new products, which will boost the company's performance in 2024," explained Alexander Anwar.

PT Jaya Swarasa Agung Tbk or Tays Bakers (TAYS) was founded in 1998 with a factory location in Tangerang. Tays Bakers is engaged in the FMCG (Fast Moving Consumer Goods) industry which focuses on the snack market.

Along with the company's development and growth, in 2014 PT Jaya Swarasa Agung Tbk developed into four business units, namely Biscuit & Crackers, Rolled Wafer, Extendedwah Snack, and Confectionary Chocolate. TAYS Chart by TradingView Meanwhile, TAYS is building a factory with a capacity of 800 tons per month which is targeted to operate by the end of 2024.