Sunday, 20 June 2021 | 23:05 WIB

PTPP Holds Sustainable Bond Offering of IDR3 Tln in Two Phases

PT PP (Persero) Tbk (PTPP).

JAKARTA, NNC - PT PP (Persero) Tbk (IDX:PTPP), state-owned construction and investment company will conduct a Sustainable Bond Offering of IDR3 trillion consisting of two stages.

President Director of PTPP Lukman Hidayat revealed in the first phase the company will issue as much as IDR1.5 trillion.

The first-phase Sustainable Bonds will be offered in two Series, i.e., Series A for a period of three years with an 8.25 percent coupon and Series B for a period of five years with an 8.5 percent coupon with a quarterly coupon payment system.

"The proceeds from the issuance of this Sustainable Bond will be used to support the development of infrastructure projects," he said after public exposure of the company's bond issuance in Jakarta on Thursday (5/24/2018).

He further explained that bond listing starts in early July 2018 with the initial offering period starting on May 24, 2018 to June 5, 2018 with the target of Effective Statement at the end of June 2018.

This Sustainable Bond has been rated idA+ (Single A Plus) from PT Pemeringkat Efek Indonesia (Pefindo).

The Company appointed three securities firms as Underwriter (PPE), namely PT BNI Sekuritas, PT Danareksa Sekuritas and PT Mandiri Sekuritas, while the Trustee is PT Bank Pembangunan Daerah Jawa Barat and Banten Tbk (IDX:BJBR).