JAKARTA - PT Pembangunan Jaya Ancol Tbk (PJAA), a real estate and tourism service company, owned by DKI Jakarta Provincial Government, is targeting fresh funds through bonds issuance, worth IDR 731 billion.
Agung Praptono, Corporate Secretary of PJAA, said that the bonds were part of Sustainable Public Offering II, with a target of funds as much as IDR 1 trillion. Previously, in 2019, the company had also issued bonds amounting to IDR 269 billion through this program.
As much as 55% of the proceeds from the bond issuance will be used by PJAA to pay the matured bonds this year. About 29% will be used to pay off the company's debt at PT Bank DKI, and 16% for equity participation in PT Taman Impian Jaya Ancol.
In the released bond offering prospectus, Praptono explained that the bonds, which would be offered on February 4-5, 2021, would be divided into 3 series. Three of them have received “idA” ratings from Indonesian Securities Rating Agency (Pefindo).
PJAA had appointed PT Mandiri Sekuritas and PT Indo Premier Sekuritas as underwriters for bonds issuance. Meanwhile, PT Bank Permata Tbk (BNLI), was appointed as the trustee.
According to idnfinancials.com data, DKI Jakarta Provincial Government controlled 71.9% of PJAA's shares as of December 30, 2020. Meanwhile, PT Pembangunan Jaya owned 18% and public investors 9.99%. (KR/VA)