JAKARTA. PT Angkasa Pura II (Persero), or AP II, attempts to raise Rp 2.25 trillion by issuing its Shelf Registration Bonds II phase II/2020. The funds will be used as working capital and for debt payments.
In the second phase of bond offering, AP II offers its bonds in four series. Series A has a total value of Rp 32 billion with a fixed interest rate of 7.8% per year and a 3-year tenor. Series B has a total value of Rp 159 billion with a fixed interest rate of 8.5% per year and a 5-year tenor. Series C has a total value at Rp 1.6 trillion with a fixed interest rate of 9.1% per year and a 7-year tenor. Finally, Series D has a total value of Rp 457 billion with a fixed interest rate of 9.25% and a 10-year tenor.
In its official statement, AP II's management explained that 78.5% of funds obtained from the bonds would be used as capital expenditure. 20% will be used as working capital, and the remaining 1.5% will be used to pay off its debts.
AP II appointed 4 affiliated companies as underwriters; PT Bahana Sekuritas, PT BNI Sekuritas, PT Danareksa Sekuritas, and PT Mandiri Sekuritas. Meanwhile,PT Bank Mega Tbk (MEGA) was appointed as trustee.
The bond offering period will start on 7 August and ends on 10 August 2020. Previously, Pemeringkat Efek Indonesia (Pefindo) has given 'idAAA' rating for bonds offered by AP II. (KR/AR)