Sampoerna Agro to issue Rp 300 billion bond and sukuk
JAKARTA. PT Sampoerna Agro Tbk (SGRO) plans to issue shelf-registered bond and sukuk worth Rp 300 billion each.
According to the company's prospectus, SGRO will issue two series' of shelf-registered bond: Series A worth Rp 208 billion with a 9.35% interest rate coupon and a three-year tenor, and Series B worth Rp 91.50 billion with a 9.35% interest rate coupon and a five-year tenor.
The company will also issue two series' of sukuk ijarah: Series A worth Rp 175 billion with Rp 16.36 billion of return installments in three years, and Series B worth Rp 125 billion with Rp 12.16 billion of return installments in five years.
65% of the proceeds from the bond issuance will be used to refinance part of its bank debt principles earlier, while the remaining 35% will be used as working capital. All of the proceeds from the sukuk issuance will be used to refinance the company's remaining bank loan principles.
The public offering period will take place on February 27, 2020 while the allocation date is on February 28, 2020. Refund will take place on March 3, 2020, while the bond and sukuk will be distributed electronically on March 3, 2020. The bond will be listed on the Indonesia Stock Exchange (IDX) on March 4, 2020. (AM/MS)