JAKARTA - PT Sinar Mas Multifinance (SMMF) announced their plan to issue bonds, worth IDR 732.5 billion, through Sustainable Public Offering (PUB) Phase II program in 2021.
Ailis Limarto, Director of SMMF, said that the bonds were part of PUB II with a target fund to be raised of IDR 2 trillion. In 2020, SMMF had issued Bond Phase I of IDR 708.3 billion.
SMMF offered Phase II bonds in 3 series. Series A was offered at IDR 348 billion with an interest rate of 9.75% per year, Series B at IDR 333.5 billion with an interest rate of 10.5% per year, and Series C at IDR 51 billion with an interest rate of 11.5% per year.
Limarto said that the funds, obtained by SMMF from bonds issuance, would be used to finance working capital. The company had appointed PT Sinarmas Sekuritas as underwriter for the bonds issuance.
According to idnfinancials.com data, SMMF had cash and cash equivalents of IDR 444.43 billion as of October 2020. However, the company, with total assets of IDR 8.68 trillion, had liabilities from medium-term debt issuance of IDR 499.28 billion and bonds of IDR 2.56 trillion. (KR/VA)