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Moratelindo to issue sukuk ijarah of IDR 500 billion for infrastructure investment

16 April 2021 20:52

JAKARTA. PT Mora Telematika Indonesia (Moratelindo) would issue Shelf-Registered Sukuk Ijarah I Phase IV Year 2020 with the principal amount of IDR 500 billion.

In its released prospectus, Moratelindo offered the said bond within two parts. Series A was offered with the value of IDR 469.1 billion, an ijarah reward instalment of IDR 48.08 billion, and the tenor of three years. On the other hand, Series B would be listed with the instalment of IDR 3.39 billion and a 5-years tenor.

Approximately 80% of the collected funds would be allocated to an investment of the backbone network and access of Moratelindo. “This includes building inland cable, ducting, and other supporting devices, be it active or passive infrastructure,” the company management explained through the information disclosure in Indonesia Stock Exchange.

The remaining 20% of the fund would be distributed to working capital, comprising operational and maintenance costs, customer installation costs, and promotional activities.

The sukuk ijarah to be issued has been granted an “idA(sy)” rating by the Indonesian Credit Rating Agency (lit. Pemeringkat Efek Indonesia/Pefindo). Moratelindo has also appointed PT BNI Sekuritas and PT Sucor Sekuritas as the underwriters, while PT Bank KB Bukopin Tbk (BBKP) would act as the trustee. (KR/ZH)

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