JAKARTA - PT Sinar Mas Agro Resources and Technology Tbk (SMRT) will issue Shelf Registration Bonds II phase I/2020 with a total value of Rp 1 trillion. Funds obtained from the issuance of these bonds will be used by the company to develop its refineries and biodiesel plants.
As quoted from the company's disclosure published on Wednesday (4/3), the bonds are offered in two series, Series A (with a three-year tenor) and B (with a five-year tenor). The bonds are guaranteed using the company's assets.
51% of the funds obtained from the issuance of the bonds will be used to increase the production capacity of its CPO refineries in Marunda (West Java), Belawan (North Sumatra), Surabaya (East Java), and Tarjun (South Kalimantan), and the remaining 49% will be used to increase the capacity of the company's biodiesel plant in Tarjun (South Kalimantan).
The company appointed several underwriters, including PT CIMB Niaga Sekuritas, PT Sinarmas Sekuritas, and PT Sucor Sekuritas. The trustee is PT Bank Mega Tbk (MEGA). (LK/AR)