JAKARTA. PT PP Properti Tbk (PPRO) would issue and offer its Shelf-Registration Bond II Phase III Year 2021. The bond would have a face value of IDR 500 billion and the highest coupon rate of 11% per year.
The said bond is a part of the shelf-registration public offering program through the issuance of Shelf-Registration Bond II of PPRO, targeting to secure IDR 2.4 trillion in the process. This program had previously allowed the company to issue bonds worth IDR 416.47 billion in February 2020 and IDR 300 billion in February 2021.
For this third phase, PPRO would offer the bonds in two series. Series A would be offered with a face value of IDR 170 billion with an annual fixed interest rate of 10% and a 370-days tenor. Meanwhile, Series B would have a par value of IDR 162 billion with an annual fixed interest rate of 11% and a 3-years tenor.
PPRO has received an “idBBB-“ for its Bond Phase III from the Pemeringkat Efek Indonesia (Pefindo) (lit. Indonesia Securities Rating Agency). PPRO had also assigned PT Bahana Sekuritas and PT Trimegah Sekuritas Indonesia Tbk (TRIM) as the underwriters for this bond issuance.
PPRO plans to spend a portion of the raised funds to pay back its loans in the form of Medium Term Notes (MTN) X and XIII. Then, the rest of it would be allotted to PPRO’s working capital. (KR/ZH)