JAKARTA. PT Sarana Multigriya Finansial (Persero) or SMF, a state-owned secondary housing financing company, will issue bonds and sukuk with total principal of IDR 2.03 trillion.

They consist of Shelf-Registration Bonds VI Phase III Year 2024 of IDR 1.51 trillion, as well as Shelf-Registration Sukuk Musyarakah I Phase II Year 2024 with total principal of 529.01 billion.

The bonds will be offered by SMF in two series with a coupon of 6.39% each, while sukuk musyarakah will be offered with a yield ratio of 87.98% or equivalent to 6.39%.

The electronic distribution of bonds and sukuk is scheduled to take place on February 6, 2024, while the listing on Indonesia Stock Exchange (IDX) follows on February 7, 2024.

In the published prospectus, SMF plans to utilise all the proceeds of the bonds and sukuk issuance to fund core business of the company. As is known, SMF carries out financing by channelling it to financial institutions for the purpose of continuation of residential and housing ownership of the people.

SMF has secured an “idAAA” and “idAAAsy” from Pefindo for these upcoming bonds and sukuk. According to IDNFinancials data, SMF’s total assets were recorded at IDR 39 trillion as of September 30, 2023. Meanwhile, its total equity reached IDR 16.59 trillion. (KR/ZH)