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PTPP Rilis Penawaran Umum Berkelanjutan Obligasi & Sukuk
09 June 2021

PTPP Releases Shelf-Registered Public Offering of Bonds & Sukuk

PT PP (Persero) Tbk, one of the leading, leading, and largest construction and investment companies in Indonesia (“PTPP”) carried out a corporate action in the context of the Shelf-Registered Public Offering of Shelf-Registered Bonds III and Shelf-Registered Public Offering of Shelf-Registered Sukuk Mudharabah I with a total target fund of collected by PTPP amounted to Rp4 trillion, consisting of Shelf-Registered Bonds III of Rp3 trillion and Shelf-Registered Sukuk Mudharabah I of Rp1 trillion. The Sustainable Public Offering was presented in the Virtual Investor Gathering organized by PTPP on Wednesday (09/06). The event was also attended by President Director Novel Arsyad, Director of Finance & Risk Management Agus Purbianto, Director of Corporate Strategy & HCM Sinur Linda Gustina, Director of Operations for EPC Eddy Herman Harun, Director of Operations for Infrastructure Yul Ari Pramuraharjo, and supporting institutions or professions.

The Shelf-Registered Public Offering (“PUB”) of the IDR3 trillion Shelf-Registered Bonds III will be carried out in 2 (two) stages. In this first stage, PTPP will conduct a Shelf-Registered Public Offering of PTPP III Phase I Year 2021 Shelf-Registered Bonds with a maximum bond principal of IDR 1.5 trillion. The PUB is divided into 2 (two) Series, namely: Series A for a period of 3 (three) years with an indicative coupon of 8.25%-9.25% and Series B for a period of 5 (five) years with an indicative coupon of  8.75%-9.75%. This Shelf-Registered Bond has received an idA (Single A) rating from PT Pemeringkat Efek Indonesia (“Pefindo”). The funds raised will be allocated 69% for refinancing and 31% for the company's working capital. Meanwhile, the remaining PUB Shelf-Registered Bonds III amounting to Rp1.5 trillion will be offered by PTPP in the second phase.

Along with the PUB for Sustainable Bonds, PTPP also conducted the Public Offering of Sustainable Sukuk Mudharabah I PTPP (“Sustainable Sukuk”) with a target fund raised of Rp1 trillion. In the Sustainable Sukuk offering, PTPP will issue and offer PTPP Phase I 2021 Sustainable Sukuk Mudharabah I with a maximum Sukuk Mudharabah fund of Rp500 billion (“Sukuk Mudharabah”). This Mudharabah Sukuk has received an idA(sy) (Single A Syariah) rating from Pefindo where the allocation of the use of the funds will be used entirely for the company's working capital. The remaining Rp500 billion of PUB Sustainable Sukuk I will be offered by PTPP in the second phase.

In carrying out this corporate action, PTPP has appointed 4 (four) securities companies as Implementing Underwriters (“PPE”) or Joint Lead Underwriters (“JLU”), namely: PT Mandiri Sekuritas, PT BRI Danareksa Sekuritas, PT BNI Sekuritas, and PT Samuel Securities. As for other Supporting Professions, PTPP has appointed PT Bank Pembangunan Daerah Jawa Barat and Banten Tbk (“BJBR”) as the Trustee, Ir. Nanette Cahyanie Handari Adi Warsito, SH as Notary, and Jusuf Indradewa & Partner as Legal Consultant in this corporate action.

PTPP will carry out a bookbuilding period starting from 09 June to 16 June 2021, where the public offering period is planned to be held on 29 June 2021 and the allotment plan is carried out on 30 June 2021. So it is estimated that the debt securities will be listed on the Indonesia Stock Exchange on 05 July 2021. All funds raised in the issuance of the first phase of PUB Sustainable Bonds and Sustainable Sukuk Mudharabah with a total of IDR 2 trillion will be used by PTPP to fund refinancing and company working capital