JAKARTA. PT Sinar Mas Multiartha (SMMA), a financial service venture under Sinar Mas Group, will offer the Shelf-Registration Bonds II of SMMA Phase I Year 2022 worth IDR 1.85 trillion.
Said bonds are a part of the Shelf-Registration II public offering, which has a total collectible target of IDR 5 trillion. Previously, SMMA had issued its first phase of bonds worth IDR 705.7 billion.
In its official release, SMMA claims to allocate IDR 562 billion of the bonds issuance proceeds to pay back maturing bonds (refinancing). Then, the remaining amount will be channelled as a perpetual working capital credit to its subsidiaries, including IDR 450 billion for PT Shinta Utama, IDR 480 billion for PT Arthamas Solusiindo, and the rest for PT Rizki Lancar Sentosa.
The public offering of SMMA’s bonds will take place from August 22 to 23, 2022. Then, the electronic distribution is set to August 26, 2022, followed by the official listing on Indonesia Stock Exchange (IDX) on August 29, 2022.
SMMA has assigned PT Aldiracita Sekuritas Indonesia and PT BRI Danareksa Sekuritas as the underwriters of this bonds issuance. Furthermore, the company has also secured an “irAA” from Kredit Rating Indonesia, a local rating agency, for these upcoming bonds. (KR/ZH)