JAKARTA - PT Sinar Mas Agro Resources and Technology Tbk (SMAR) will issue Shelf Registration Bond II Phase III 2021 with a principal of IDR 825 billion. This corporate action plan will be offered from February 11-15, 2021 and listed on the Indonesia Stock Exchange (IDX) on February 22, 2021.
Quoted from the prospectus published on Friday (29/1), the bonds are issued in three series, namely, Series A amounting to IDR 225 billion with a fixed interest rate of 7.25% per annum for 370 days, Series B as much as IDR 380 billion with 9% interest per annum for three years, and Series C as much as IDR 220 billion with a fixed interest rate of 9.50% per annum for a period of five years.
The proceeds from the bond issuance will be used to pay installments of medium-term principal loan and long-term loan. As of September 2020, SMRT posted short-term bank loans of IDR 8.77 trillion and long-term bank loan after deducting the portion that will mature within a year of IDR 5.76 trillion.
Underwriters appointed to carry out this corporate action include PT BCA Sekuritas, PT CIMB Niaga Sekuritas, PT Sinarmas Sekuritas, and PT Sucor Sekuritas. Meanwhile, the appointed trustee is PT Bank Mega Tbk (MEGA). (LK/LM)