JAKARTA – PT Lontar Papyrus Pulp & Paper Industry (LPPI) will issue the Shelf-Registration Bonds I Phase II Year 2022 of IDR 2.5 trillion next week (18-19/4). The proceds from the bonds offering will be used to pay debts and enhance the working capital.
In the prospectus quoted Wednesday (6/4), the said bonds are said to be offered in Series A of IDR 519.02 billion, which will be equipped with an annual interest rate of 6% for 370 days. It will also be offered in Series B of IDR 1.40 trillion with a 9.50% interest rate per annum for three years and Series C of IDR 574.97 billion with a 10.25% annual interest rate for five years.
Then, 57.8% of the proceeds will be utilised to pay back and install principal loans and their interests, while allocating the rest of them to purchase raw materials, auxiliary materials for production, energy and fuel and packaged goods, as well as cover the overhead costs.
The assigned underwriters are PT Aldiracita Sekuritas Indonesia, PT BCA Sekuritas, PT BNI Sekuritas, PT Indopremier Sekuritas, PT Mega Capital Sekuritas, PT Suco Sekuritas, and PT Trimegah Sekuritas Indonesia Tbk (TRIM). PT Bank KB Bukopin Tbk (BBKP) will act as the trustee. For the record, Pefindo, a local rating agency, has granted an “idA (single A)” rating to the upcoming bonds. (LK/ZH)