JAKARTA – PT Indah Kiat Pulp & Paper Tbk (INKP) would release a Bond and Sukuk worth IDR 4 trillion in total to cover the primary instalments, pay loan interest, and boost its working capital. This corporate action is scheduled for next month (17-20/9).
In the short prospectus quoted today (20/8), the Shelf-Registration Bond II Phase I 2021 would be offered for IDR 3 trillion, while the Shelf-Registration Sukuk Mudharabah I Phase I 2021 is worth IDR 1 trillion. This bond and sukuk would be issued in three series of A, B, and C, with a one-year to five-year period. Next, 60% of the proceeds would be spent on paying principal loans and interest, while the rest of it goes to the working capital.
This bond has a full-commitment guarantee granted by the underwriters. They include PT BCA Sekuritas, PT BNI Sekuritas, PT Indo Premier Sekuritas, PT Maybank Kim Eng Sekuritas, PT Sinarmas Sekuritas, and PT Sucor Sekuritas. Meanwhile, the assigned trustee is PT Bank KB Bukopin Tbk (BBKP).
PT Pemeringkat Efek Indonesia (Pefindo) gives an “idA+” (single A plus) for INKP’s Bond, while the Sukuk Mudharabah receives an “idA+ (sy)” (single A plus sharia). (LK/ZH)