JAKARTA. PT Medco Power Indonesia (MPI), a subsidiary of PT Medco Energy Internasional Tbk (MEDC), will issue Shelf-Registration Sukuk Wakalah I Phase III Year 2024 with total principal of IDR 750 billion.

Said securities will be issued in relation to the Public Offering of Shelf-Registration Sukuk Wakalah I of MPI, targeting total proceeds of IDR 3 trillion. Previously, MPI had also issued sukuk wakalah worth IDR 1.1 trillion.

For this third phase issuance, MPI will offer sukuk wakalah in three series, consisting of series A of IDR 175.99 billion, series B of IDR 494.49 billion, and series C of IDR 79.51 billion.

MPI had acquired an “idA” rating from Pemeringkat Efek Indonesia, a local rating agency, for this upcoming sukuk wakalah. For the issuance, MPI had assigned four underwriters, including PT BNI Sekuritas, PT BRI Danareksa Sekuritas, PT Mandiri Sekuritas, and PT Trimegah Sekuritas Indonesia Tbk (TRIM).

The public offering of this sukuk will last from January 12 to 15, 2024, while the distribution follows on January 18, 2024, before finally being listed on Indonesia Stock Exchange (IDX) on January 19, 2024. (KR/ZH)