JAKARTA - PT Chandra Asri Petrochemical Tbk (TPIA), Indonesia’s largest integrated petrochemical company, consecutively gained overwhelming market support for the issuance of Shelf-Registered Bonds III Phase V 2022 worth IDR 1.4 trillion. This bond succeeded in maximizing the absorption of funds with a target of IDR 5 trillion while closing the series of Shelf-Registered Bonds III issued since 2020.
Bonds that affirmed an idAA- rating by PT Pemeringkat Efek Indonesia (Pefindo) were successfully 100% absorbed by the market and became an attractive option for domestic investors who are looking for investment instruments with various maturities to diversify their portfolios. 5-year tenor for Series A is offered 7.2% coupon, 7-years tenor for a Series B with 8.1% coupon, and the longest tenor, 10 years with a of 8.8% coupon.
Erwin Ciputra, President Director of Chandra Asri stated, "At the beginning of this year, we are pleased to be able to participate again in enlivening the national bond market by providing a trusted investment instruments for the public and our investors who have been loyal to support us from the beginning of the issuance of this Shelf-Registered Bond III." Erwin said.
Erwin added, that the success of this series of bonds is a testament to the high confidence of domestic investors in the company’s performance and the prospects for the petrochemical business in the future. Besides, Chandra Asri's proactive efforts in penetrating the domestic bonds market in order to braced up the local investor base are always welcomed by the market, “We also provide an alternative longer tenor of up to 10 years to meet the needs of a long-term horizon investment. In our view, long tenors will be more in line with the Company's business plan, and evidently, it’s welcomed by the market.”
Underwriters of this bonds are PT BCA Sekuritas, PT BNI Sekuritas, PT BRI Danareksa Sekuritas, PT CIMB Niaga Sekuritas, and PT DBS Vickers Sekuritas Indonesia, as well as PT Bank Tabungan Negara Tbk as the trustee. Previously in this series of Shelf-Registered Bonds III, Chandra Asri had issued Shelf-Registered Bonds III Phase I 2020 with a value of IDR 1 trillion, followed by Phase II 2020 of IDR 600 billion, Phase III 2021 of IDR 1 trillion, and Phase IV 2021 of IDR 1 trillion. (LM)