JAKARTA. PT Voksel Electric Tbk (VOKS) issued bonds with a total value of Rp 500 billion to support the expansion and take part in the mega project of 35 thousand megawatts (MW) power plant.
The bonds were issued in two series; Series A with a total value of Rp 310.6 billion, a fixed interest rate of 10.25%, and a 3-year tenor, and series B with a total value of Rp 13.45 billion, a fixed interest of 10.50%, and a 5-year tenor.
While the remaining Rp 175.95 billion will be guaranteed in the best capability of the company.
Sachje Amalia Siddharta, Corporate Secretary of VOKS, said that the funds acquired from bonds issuance will be used as the company's working capital, particularly to produce high-voltage power cable.
"This is to smooth the company's contribution to the 35,000 MW mega electricity project launched by the government," Siddharta said as reported by Kontan on Thursday (16/1) today. (KR/AR)