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Dharma Satya will issue bonds to raise Rp 451 billion

27 July 2020 09:05

JAKARTA. PT Dharma Satya Nusantara Tbk (DSNG) is trying to raise Rp 451 billion by issuing DSNG Shelf Registration Bonds I phase I/2020. The funds will be used to pay off a number of maturing debts.

DSNG's management explained that around 72% or Rp 326.2 billion of the funds raised would be used to pay off the company's debt. Then the rest will be distributed to DSNG's subsidiary, PT Swakarsa Sinarsentosa. "The latter will be used to repay a portion of the loan [of Sinarsentosa Swakarsa]," said DSNG's management through information disclosure.

The bonds to be issued by DSNG are offered in 2 series. Series A is offered with a total value of Rp 275 billion, with a fixed interest rate of 9.6% per year and a 3-year tenor. Then the series B is offered with a total value of Rp176 billion, with a fixed interest of 9.9% per year and a 5-year tenor.

DSNG appointed PT Mandiri Sekuritas and PT BCA Sekuritas as the guarantor for the issuance of bonds. Mandiri Sekuritas pledged 33.6% of all bonds offered by DSNG, while BCA Sekuritas pledged 66.4%.

For the record, DSNG's bond has been rated "idA-" from the Indonesian Securities Rating Agency (Pefindo). This rating is valid from 3 March 2020 until 1 March 2021. (KR/AR)

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