Indah Kiat Pulp & Paper issues bonds and sukuk of IDR 3.39 trillion
JAKARTA. PT Indah Kiat Pulp & Paper Tbk (INKP), a pulp and paper manufacturer, will issue bonds and sukuk with a total principal of IDR 3.39 trillion.
The bonds to be issued have a total principal of IDR 3.13 trillion. It will be offered in 3 series, with a coupon ranging from 6.50% to 10.75% per annum. The tenor also varies from 370 days to 5 years from the emission date.
Meanwhile, the total principal for sukuk is IDR 1.15 trillion. Sukuk will be offered in 3 series, with a profit-sharing revenue equal to 6.50% to 10.75% per annum.
The management of INKP said that approximately 33% of the funds raised in this bonds issuance will be utilised to pay off loans. Then, another 67% will be allocated to its working capital. Meanwhile, the entire proceeds of sukuk issuance will be channelled to working capital.
The public offering of bonds and sukuk of INKP is scheduled to take place on August 22, 2023. The distribution will be held on August 25, followed by the listing on Indonesia Stock Exchange (IDX) on August 28, 2023. (KR/ZH)