JAKARTA - PT Sinar Mas Agro Resources and Technology Tbk (SMAR), a palm oil producer owned by the Sinar Mas Group, plans to issue bonds with a principal value of IDR 825 billion.
Based on official information from the Indonesian Central Securities Depository (KSEI), the bonds were registered under the name Sustainable Bonds II SMART Phase III Year 2021. These debt securities are part of SMART's Continuous Public Offering II program, with a target of raising IDR 3 trillion funds.
In April 2020, SMAR's management issued IDR 775 billion bonds. Then, in October 2020, the company had also issued bonds worth IDR 1.4 trillion.
SMAR’s management will offer bonds of IDR 825 billion in 3 series. Series A is offered at IDR 225 billion with a fixed interest rate of 7.25% per annum and a tenor of 370 calendar days, Series B at IDR 380 billion with a fixed interest rate of 9% per annum and a tenor of 3 years, and Series C is IDR 220 billion with a fixed interest rate of 9. 5% per annum and a tenor of 5 years.
The bond public offering period will take place on 10th, 11th and 15th February 2021. Meanwhile, the listing on Indonesia Stock Exchange (IDX) will be conducted on 22nd February 2021.
In this bond issuance, SMAR has appointed 4 securities companies as underwriters, including PT BCA Sekuritas, PT CIMB Niaga Sekuritas, PT Sinarmas Sekuritas, and PT Sucor Sekuritas. (KR/VA)