JAKARTA. PT Intiland Development Tbk (DILD), a property and real estate developer, plans to issue Shelf-Registration Sukuk Ijarah I Phase III Year 2022 with a principal of IDR 250 billion.
Said sharia securities will be offered in two series, A and B, for the same amount of principal, IDR 125 billion each. The ijarah yield instalment for series A is set to IDR 12.86 billion per year or equivalent to 10.30% per year, while series B’s yield is set to IDR 13.25 billion or approximately 10.60% per annum.
For the record, the Sukuk Ijarah I Phase II of DILD is included in DILD’s public offering program of shelf-registration sukuk ijarah with a target of IDR 750 billion of fresh funds. In the previous phase, the company had issued another set of sukuk ijarah worth IDR 500 billion.
The public offering of these sukuk ijarah of DILD is scheduled to take place from November 22 to 23, 2022. Then, the listing on Indonesia Stock Exchange (IDX) will follow on November 29, 2022.
Based on the issued prospectus, DILD plans to utilise most proceeds gained during this sukuk ijarah issuance to pay off its outstanding debts. Then, another IDR 118 billion will be advanced to its subsidiaries to enhance their working capital, leaving the remaining IDR 12.09 billion to improve its own working capital. (KR/ZH)