JAKARTA. PT Chandra Asri Petrochemical Tbk (TPIA) will issue the Shelf-Registered Bonds III of TPIA Phase V Year 2022 with a face value of IDR 1.4 trillion and the highest interest rate of 8.80% per year.
Based on the released official statement, all the proceeds of this bond issuance will be used to fulfil TPIA’s working capital needs. The bonds will be offered in three series.
Series A will be offered with a face value of IDR 860 billion and an annual fixed interest rate of 7.20%. The tenor will last five years. Meanwhile, Series B will be worth IDR 300 billion, equipped with an interest rate of 8.10% per year and a seven-year tenor. Lastly, Series C will have a face value of IDR 240 billion with an interest rate capped at 8.80% per year and a ten-year tenor.
For the record, the Bonds Phase V Year 2022 are a part of a bigger Public Offering program of Shelf-Registered Bonds III of TPIA. Its target amounts to IDR 5 trillion in total. Previously, in 2020, TPIA issued two sets of bonds, totalling IDR 1.6 trillion, followed by another in 2021 of IDR 2 trillion.
The public offering of these recent bonds will take place from February 25 to March 2, 2022. Meanwhile, the distribution is scheduled for March 8, 2022, before the listing on Indonesia Stock Exchange (IDX) on March 9, 2022.
TPIA currently secures an “idAA-“ rating from Pemeringkat Efek Indonesia (Pefindo), a local rating agency, regarding the long-term notes to be issued shortly. (KR/ZH)