JAKARTA. PT Permodalan Nasional Madani (Persero) or PNM will issue a bond worth as much as Rp 2.4 trillion in three series' with the highest interest rate being 8.75% per year.
According to the bond's registration information at the Indonesian Central Securities Depository (ICSD), the bond is part of the company's Shelf-Registered Bond III PNM Phase IV 2020 with a proceed target of Rp 6 trillion. According to information collected by IDNFinancials.com, the bond will be disbursed for MSME financing.
Previously PNM issued a Rp 2 trillion bond as part of the programme in May 2019, followed by a Rp 1.35 trillion bond in November 2019 and another worth Rp 250 billion in April 2020.
The amounts of the Phase IV 2020 bonds to be issued are Rp 875.8 billion for Series A, Rp 337 billion for Series B, and Rp 280 billion for Series C. The remaining amount of Rp 907.2 billion will be guaranteed with the best effort.
PNM will commence the public offering period from 27 November to 1 December 2020. The bond will be registered on the Indonesia Stock Exchange on 7 December 2020. Three securities companies have been appointed for the issuance, namely PT CIMB Niaga Sekuritas, PT Indo Premier Sekuritas, and PT Mandiri Sekuritas. (KR/MS)