JAKARTA. PT PP Properti Tbk (PPRO), a property and real estate developer owned by PT Pembangunan Perumahan (Persero) Tbk (PTPP), will issue Bonds II of PPRO Year 2023 with a principal of IDR 800 billion.

Said bonds will be offered in two series, with a tenor of 3 years for series A and 5 years for series B. The coupon and the principal for both series are still undisclosed.

The preliminary phase of the bonds offering is scheduled to last from April 13 to May 5, 2023, followed by the public offering of the bonds on May 22-23, 2023, before finally being listed on Indonesia Stock Exchange (IDX) on May 29, 2023.

According to the issued prospectus, PPRO plans to allocate IDR 505 billion of the bonds offering proceeds to pay off its debts. The remaining amount will then be used to enhance its working capital, particularly funding the housing construction project in Transyogi Cibubur.

Until December 31, 2022, PPRO recorded total assets and equity of IDR 21.81 trillion and IDR 4.56 trillion. (KR/ZH)