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Bonds maturing in October, Summarecon readies IDR 500 billion

27 September 2022 15:10

JAKARTA. A property developer, PT Summarecon Agung Tbk (SMRA) has allocated funds of IDR 500 billion to pay back the bonds that will mature in October 2022.

Jemmy Kusnadi, Corporate Secretary of Summarecon Agung, claimed that the IDR 500 billion originates from the proceeds of the issuance of Shelf-Registration Bonds IV Phase I of SMRA Year 2022 worth IDR 448 billion, plus the company’s internal cash. “The funds for the bonds payment that is due October 2022 worth IDR 500 billion is all ready,” he confirmed in the disclosure as quoted by Bisnis earlier today (27/9).

Based on the information disclosure, SMRA had reportedly commenced the Shelf-Registration Bonds IV Public Offering Program, aiming for a total of IDR 3 trillion. These bonds were offered publicly from June 13 to 22, 2022, maturing on July 8, 2027. For the Phase I Year 2022, the bonds were worth IDR 448.45 billion and equipped with an annual fixed interest rate of 8%. The first round of interest payment will take place on October 8, 2022.

Then, according to the financial statement as of June 30, 2022, SMRA collected net revenue of IDR 2.72 trillion. It was 10.99% higher than IDR 2.45 trillion recorded in the same period last year. Furthermore, its net profit soared as high as 134.56% from IDR 108.54 billion in H1 2021 to IDR 254.6 billion in H2 2022. (AM/ZH)

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