JAKARTA - PT Chandra Asri Petrochemical Tbk (TPIA) will seek fresh funds, worth IDR 1 trillion, through the issuance of Sustainable Bonds III Phase III 2021, with the highest interest rate of 9% per year.
Series A of the bonds is offered with a principal amount of IDR 50 billion, with a fixed interest rate of 7.80% per year and a tenor of 3 years. Then, Series B has a principal amount of IDR 587.95 billion, with a fixed interest rate of 8.50% per year and a tenor of 5 years. Meanwhile, Series C is offered with a principal amount of IDR 362.05 billion, with a fixed interest rate of 9% per year and a tenor of 7 years.
The bond public offering period will take place on April 9-12, 2021. Electronic bond distribution will be held on April 15, 2021 and listed on the Indonesia Stock Exchange on April 16, 2021.
In the bond offering prospectus that has been issued, TPIA Management explained that the funds obtained by the company "will be used entirely for working capital purposes.
TPIA appointed PT BCA Sekuritas and PT DBS Vickers Sekuritas Indonesia as underwriters for the bonds issuance. Meanwhile, PT Bahana Sekuritas was appointed as the sales agent and PT Bank Tabungan Negara (Persero) Tbk (BBTN) as the trustee. (KR/VA)