JAKARTA – PT Pembangunan Perumahan (Persero) Tbk (PTPP) seeks fresh funds of IDR 2 trillion through the issuance of bonds and Sukuk Mudharabah to pay off its 2018 Bond and additional working capital. Yuyus Juarsa, the Corporate Secretary of PTPP, announces this plan in a short prospectus published Wednesday (9/6).
In the said prospectus, the target funds from the Shelf-Registration Bond Phase I 2021 reach IDR 1.5 trillion. The bond would be released in two series: A and B, with a three- and five-year tenor period, respectively. Meanwhile, the Shelf Registration Sukuk Mudharabah Phase I 2021 amounts to IDR 500 billion.
The funds gathered from this action would be used to pay off its Shelf-Registration Bond II Phase I 2018 of IDR 1.04 trillion with an 8.25% interest rate maturing July 6, 2021. The remaining amount would be allotted to the working capital, including paying for wages, material suppliers, and subcontractors.
As of December 2021, PTPP recorded a decline in its revenue to IDR 15.83 trillion from IDR 23.57 trillion in December 2020. Furthermore, its current year’s profit in 2020 dropped down to IDR 266.27 billion from IDR 1.04 trillion in 2019.
The underwriters appointed for this corporate action are PT BNI Sekuritas, PT BRI Danareksa Sekuritas, PT Mandiri Sekuritas, and PT Samuel Sekuritas Indonesia. The trustee role is entrusted to PT BPD Jawa Barat dan Banten Tbk (BJBR). (LK/ZH)