JAKARTA. PT Bukit Makmur Mandiri Utama (BUMA), a subsidiary of PT Delta Dunia Makmur Tbk (DOID), reported oversubscription for Bond II Year 2024.

Only within a few days, bond with total principal of IDR 1 trillion was oversubscribed 1.4 times. The management of BUMA mentioned that it indicates high demand from investor towards the issued bond.

For the record, Bond II Year 2024 issued by BUMA was offered in 3 series. The coupons offered range from 7.25% to 9.75% per annum, with the tenor set from 370 days to 5 years.

“The outstanding response towards the public offering of Bond II of BUMA Year 2024 reasserts the conviction towards BUMA’s strategic direction, solid cash flow management, and strong credit profile,” said Indra Kanoena, President Director of BUMA, in the official disclosure.

For the record, BUMA will utilise the proceeds of bond issuance for several purposes, ranging from payment of Series A of Rupiah Bond of BUMA I Year 2023 to capital expenditure for heavy equipment acquisition, and working capital to support operational activities of the company.

Prior to this, Pemeringkat Efek Indonesia (Pefindo) and Fitch Ratings have granted an “A+” rating for the securities issued by BUMA. (KR/ZH)