JAKARTA. PT Bhakti Multi Artha Tbk (BHAT) will issue Medium Term Notes (MTN) of IDR 250 billion to enhance the working capital of its subsidiary.
The said securities have been registered to the Indonesian Central Securities Depository (lit. Kustodian Sentral Efek Indonesia/KSEI) under the title MTN Bhakti Multi Artha I Year 2022. These notes have a tenor of five years and are equipped with an annual fixed interest rate of 8%.
The MTN has received an “irBBB” from PT Kredit Rating Indonesia. For the record, the company has assigned PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk (BJBR) as the monitoring agent in this MTN issuance. Meanwhile, PT Shinhan Sekuritas Indonesia will act as the arranger.
The entire proceeds gained by BHAT in this MTN issuance will be channelled as a credit to one of its subsidiaries, PT Bhakti Fintek Indonesia. “It will then be utilised as its operational expenditures,” BHAT management clarified in the information disclosure in Indonesia Stock Exchange (IDX).
As of January 4, 2022, 54% of BHAT’s shares are under the control of PT Nasional Niaga Abadi. Then, another 6% belongs to PT Surya Duta Mas, while the public shares the remaining 40%. (KR/ZH)