BALI to issue Sukuk Ijarah of IDR 500 billion

24 November 2022 05:07

JAKARTA. PT Bali Towerindo Sentra Tbk (BALI) holds a public offering of Shelf-Registration Sukuk Ijarah I Year 2022 of IDR 500 billion at most, of the total collective target of IDR 2 trillion.

The official announcement revealed that this Sukuk Ijarah is issued without any bank drafts, save for the Jumbo Certificate of Sukuk Ijarah that will be issued on behalf of Indonesia Central Securities Depository (KSEI) as the proof of ownership of Sharia Securities for the interest of Sukuk Ijarah holders.

This Sukuk Ijarah will be issued in three series. Series A will be equipped with an ijarah yield instalment of 7.375%-7.875% and a tenor of 370 days. Series B will have an ijarah yield instalment of 9.75%-10.25% and a tenor of three (3) years. Lastly, Series C will be offered with an ijarah yield instalment of 10.25%-10.75% with a tenor of five (5) years.

Jap Owen Ronadhi, President Director of Bali Towerindo, said that his company will utilise 70% of the proceeds of this sukuk ijarah issuance (after omitting emission fees) for capital expenditure (CapEx). With said CapEx budget, BALI aims to enhance the capacity, extend its network, improve the quality of service, and boost its working capital. Then, the remaining amount will be spent on operational activities of the company.

The company then assign PT BRI Danareksa Sekuritas and PT Sucor Sekuritas as its underwriters, while PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk (BJB) will be the trustee. Meanwhile, Pefindo has given the rating of “idA-(sy)” for this sukuk ijarah, similar to PT Fitch Ratings Indonesia (Fitch) that grants a “Single A Minus Syariah.” (AM/ZH)

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