JAKARTA - PT Adaro Andalan Indonesia Tbk (AADI) is eyeing IDR 4.32 trillion of fresh funds from its initial public offering (IPO), starting from today (29/11) until next Tuesday (3/12). AADI will offer 778.68 million shares for IDR 5,550 each.

In the prospectus quoted Friday (29/11), 37.23% of IPO proceeds will be allocated as a loan to its subsidiary, PT Maritim Barito Perkasa (MBP). Then, another portion will also be utilised for refinancing some of its loan to PT Adaro Indonesia (AI) and PT Alamtri Resources Indonesia Tbk (ADRO).

AADI’s facility for MBP was signed on September 2, 2024. Worth USD 100 million, the facility is charged with term SOFR plus margin of 1.2% per annum, and will mature on December 31, 2029.

Meanwhile, AADI will pay back IDR 635.52 billion or USD 40 million out of the total of USD 50 million facility. This loan is charged with term SOFR plus margin of 1.4% per annum, and will mature in five years.

In addition, the company is also said to pay IDR 2.04 trillion out of total loan of USD 1.45 billion. For this facility, the applied interest rate is term SOFR plus margin of 1.2% per annum, maturing on December 31, 2028. (LK/ZH)