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PPRO extends the bookbuilding period of its Shelf Registration Bonds to 7 February

05 February 2020 11:19

JAKARTA - PT PP Properti Tbk (PPRO) extended the bookbuilding period in the issuance of the company's Shelf Registration Bonds II phase I/2020. 

As quoted by Bisnis on Wednesday (5/2), President Director of PPRO, Taufik Hidayat, stated that the company extended the bookbuilding period to 7 February 2020.

41.94% of the funds obtained from the bond issuance, he explained, will be used to pay off existing debt. The rest of the funds will be used for business development (32.89%) and as working capital (25.17%). 

The company has appointed five underwriters, including PT Mandiri Sekuritas, PT Indopremier Sekuritas and PT CIMB Niaga Sekuritas.

The bonds will be issued in two series, namely series A (with a 3-year tenor and an interest rate of 9.4% - 9.9%) and series B (with a 5-year tenor and an interest rate of 9.75% - 10.25%). (ARM/AR)

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