JAKARTA. PT Lontar Papyrus Pulp & Paper Industry, a pulp and tissue paper manufacturer under Sinarmas Group, will initiate the public offering of Shelf-Registration Bonds II Phase II Year 2023 with a total principal of IDR 1.8 trillion.

These bonds are a part of the Public Offering Program of Shelf-Registration Bonds of Lontar Papyrus, targeting a total of IDR 7 trillion. It had previously issued first-phase bonds with a principal of IDR 3 trillion.

For this second-phase issuance of bonds, the company is offering bonds in three series. Series A bonds are offered with a principal of IDR 85.74 billion, series B worth IDR 1.48 trillion, and series C of IDR 231.19 billion.

The tenors set for these bonds range from 370 days until 5 years since the emission date. Then, the interests attached to these bonds also vary from 6.5% to 10.5% per annum.

Lontar Papyrus is reported to have obtained an “idA (Single A)” rating from Pemeringkat Efek Indonesia (Pefindo), a local rating agency, for the upcoming second-phase bonds. Several parties named as the underwriter for this issuance are Aldiracita Sekuritas, BCA Sekuritas, BRI Danareksa Sekuritas, Indo Premier, Mandiri Sekuritas, RHB Sekuritas, Sucor Sekuritas, and Trimegah Sekuritas.

In the issued prospectus, Lontar Papyrus is also said to allocate the entire proceeds of the bonds’ issuance to pay off loan principals’ instalment, bonds’ interests, and sukuk. (KR/ZH)