JAKARTA. PT Chandra Asri Petrochemical Tbk (TPIA) is eyeing IDR 1.25 trillion in fresh funds in the issuance of Phase II Shelf Registration Bonds IV in 2023.

The bonds are part of the Shelf Public Offering (PUB) program through TPIA's IV Shelf Registration Bonds, with a target of IDR 8 trillion to be raised. Previously, on August 9 2022, the company had issued the first phase of bonds with a principal amount of IDR 2 trillion.

In this second phase, TPIA is offering bonds in 2 series. The principal amount offered in Series A is IDR 1.02 trillion, with a fixed interest rate of 8.40% per year and a tenor of 5 years. Meanwhile, the principal amount for Series B is IDR 227.35 billion, with a coupon of 8.90% per year and a tenor of 7 years.

According to an official statement received by idnfinancials.com, the proceeds from the second phase of the bond issuance will be channeled to TPIA's working capital. This includes the purchase of raw materials and the company's operational costs.

The public offering period for the bonds is scheduled for February 21-23 2023. Electronic bond distribution will be held on February 28 2023 and listed on the Indonesia Stock Exchange (IDX) on March 1 2023.

A number of securities companies appointed as underwriters for the issuance of TPIA bonds, namely PT BCA Sekuritas, PT BNI Sekuritas, PT BRI Danareksa Sekuritas, PT RHB Sekuritas Indonesia, and PT UOB Kay Hian Sekuritas. (KR/LM)