JAKARTA. PT Waskita Karya (Persero) Tbk (WSKT) is issuing Bonds III Waskita Karya Year 2021 with a face value of IDR 1.77 trillion in total. It is intended to pay its other maturing securities and finance its working capital.
The bonds are offered in two series: Series A of IDR 722 billion and Series B of IDR 1.05 trillion. The interest rate for Series A is set to 6.10% per year, while Series B’s is 6.80% per year. Lastly, the tenors have been set to 5 years for Series A and 7 years for Series B.
At the beginning of the month, the management confirmed that most of the proceeds would be used to cover the payment of Shelf-Registration Bond II WSKT Phase II Year 2016 of IDR 900 billion and Shelf-Registration Bond III WSKT Phase III Year 2018 of IDR 941.75 billion. Then, the rest of them would go to its working capital to fund Phase I of the Kayu Agung-Palembang-Betung toll road project.
The offering period of the most recently issued bonds starts today (22/9). The electronic distribution would take place starting September 24, 2021, and would be listed on Indonesia Stock Exchange on September 27, 2021.
Several parties that WSKT had appointed as underwriters include PT BRI Danareksa Sekuritas, PT Bahana Sekuritas, PT DBS Vickers Sekuritas Indonesia, PT Indo Premier Sekuritas, and PT Mandiri Sekuritas. For the record, this Bonds III Year 2021 had been granted an “idAAA” rating and would be guaranteed by the state itself. (KR/ZH)