JAKARTA. PT Indah Kiat Pulp & Paper Tbk (INKP), a pulp and paper manufacturer under Sinarmas Group, seeks fresh funds of IDR 1.75 trillion through the issuance of Shelf-Registration Bonds III Phase IV Year 2023 and Shelf-Registration Sukuk Mudharabah II Phase IV Year 2023.

The fresh funds sought by INKP from the issuance of bonds reach IDR 1.07 trillion. Meanwhile, the total funds collected from sukuk issuance are targeted to reach IDR 675 billion.

The coupon attached to INKP’s bonds begins at 10.50% per year to 11% per year. As for the sukuk mudharabah, the yield rate is set to 18.93% to 29.7% of the sukuk mudharabah’s profit-sharing income.

The bonds and sukuk of INKP will be offered from January 20 to 24, 2023. Meanwhile, the electronic distribution of bonds and sukuk will take place on January 27, 2023, followed by the listing on Indonesia Stock Exchange (IDX) on January 30, 2022.

According to the information disclosure, the management of INKP will allocate the proceeds of bonds and sukuk mudharabah issuance to the working capital.

Based on IDNFinancials data, INKP had issued bonds and sukuk of IDR 1.43 trillion in November 2022. In September 2022, the company also issued bonds and sukuk of IDR 3.82 trillion. (KR/ZH)