JAKARTA. PT Indonesia Infrastructure Finance (IIF) will issue and offer its Shelf Registration Bond I Phase II/2020, with a principal of Rp1.5 trillion.
IIF's management explained that the bonds would be offered in 3 series. Series A has a principal of Rp570 billion with a tenor of 367 calendar days and a fixed interest rate of 5% yearly. Series B is offered with a principal of Rp. 810 billion, a 3-year tenor and a fixed interest rate of 6.65% yearly. Finally, series C has a principal of Rp120 billion, a 5-year tenor and a fixed interest rate of 6.90% yearly.
The bonds, which will be offered on 15-16 October 2020, have received an “idAAA” rating from the Indonesian Securities Rating Agency (Pefindo). In issuing these bonds, IIF appointed 5 securities companies as underwriters; PT BNI Sekuritas, PT DBS Vickers Sekuritas, PT Mandiri Sekuritas, PT Indopremier Sekuritas, and PT Trimegah Sekuritas Indonesia Tbk (TRIM).
IIF plans to use 53.33% of the proceeds from its bonds (around Rp800 billion) to pay off its maturing bonds. Then the remaining 46.67% or (around Rp700 billion)) will be used for business development. (KR/AR)