JAKARTA – PT Adhi Commuter Properti Tbk (ACDP) will begin its payment of IDR 141 billion of the total of Series A Bonds of IDR 491 billion maturing on May 27, 2022. The fund resources for these instalments originate from the proceeds of its initial public offering (IPO) of 2,222,222,200 shares of IDR 130 each. The IPO is currently taking place, starting from February 16 to 21, 2022.
In the prospectus quoted today (18/2), these bonds were issued back on May 20, 2021, with a one-year tenor (267 calendar days) and a 10.50% interest rate per year. The outstanding balance will then amount to IDR 350 billion after the first instalment. In June 2029, ACDP also owes short-term ACDP bonds of Series B of IDR 8.91 billion with an annual interest of 11% and a three-year tenor.
The funds to pay back Series A Bonds will take up 49% of the total IPO proceeds target of IDR 288.88 billion. The remaining proceeds of IDR 70 billion out of IDR 271 billion will be spent on acquiring land of 3.6 hectares (Ha) owned by PT Prakarsa Triotama Jaya in Bekasi, West Java. Meanwhile, the rest of them will be channelled to the existing project development in Bogor, West Java.
ADCP will also arrange a Management and Employee Stock Option (MESOP) of 444,444,400 shares of 2% of its entire issued and paid-up capital. It is intended to gain fresh funds of IDR 44.44 billion, which may become additional fund resources. (LK/ZH)