JAKARTA. PT Indosat Ooredoo Hutchison Tbk (ISAT) will offer bonds and sukuk worth a total of IDR 2.5 trillion. The proceeds will be used to maximise the company’s progress post-merger.
Nicky Lee, Director and Chief Financial Officer of ISAT, claimed that this round of bonds and sukuk issuance is a part of Shelf-Registration Public Offering IV of Indosat, comprising Shelf-Registration Bonds IV of Indosat and Sukuk Ijarah IV of Indosat, worth a total of IDR 15 trillion. “It will be the only issuance this year by Indosat. Other public offerings will take place next year,” Lee clarified during a press conference yesterday (15/9).
Furthermore, Lee revealed that out of the total IDR 15 trillion, the Shelf-Registration Bonds IV of Indosat will offer IDR 10.50 trillion, leaving another IDR 4.50 trillion in Sukuk Ijarah IV of Indosat. However, for this first phase, ISAT aims to raise IDR 1.75 trillion through the Shelf-Registration Bonds issuance and collect another IDR 750 billion from the issuance of Sukuk Ijarah.
The bonds will be offered in three series. Series A will have a tenor of one year and a coupon rate of 4.25% to 5%. Series B will mature in three years, equipped with a coupon rate of 6.30% to 7.10%. Lastly, series C will have a tenor of 5 years and a coupon rate of 6.90% to 7.90%. Both the bonds and sukuk are currently in their bookbuilding phase, offered publicly in rupiah. The public offering commenced two days ago, on September 14, 2022, and will end on September 27, 2022.
The underwriters assigned for this issuance are CIMB Niaga Sekuritas, PT BCA Sekuritas, PT DBS Vickers Sekuritas Indonesia, PT Indo Premier Sekuritas, PT Mandiri Sekuritas, PT BRI Danareksa Sekuritas, and PT Trimegah Sekuritas Indonesia Tbk. Meanwhile, PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) acts as the trustee.
For the record, PT Pemeringkat Efek Indonesia (Pefindo), a local rating agency, has granted an “idAAA (triple A)” rating for the Shelf-Registration Bonds and an “idAAA(sy) (triple A syariah)” for the Sukuk Ijarah. (AM/ZH)