JAKARTA. PT Tunas Baru Lampung Tbk (TBLA), a palm and sugarcane plantation company, aims to score IDR 500 billion of fresh funds through the issuance of the Shelf-Registration Bonds II of TBLA Phase I Year 2023.

This round of issuance of bonds is a part of a more extensive public offering program of Shelf-Registration Bonds II of TBLA with a total target of IDR 1.5 trillion. For the first phase, the bonds are issued with a five-year tenor since the emission date.

The entire proceeds of the bonds issuance of TBLA will then be used as its working capital. Specifically, they will be spent on crude palm oil (CPO) raw materials, which will be utilised for cooking oil and biodiesel manufacturing process.

The initial phase of bonds offering will take place from February 23 to March 9, 2023. Then, the main public offering will follow from March 27 to 30, 2023. The electronic distribution of the bonds is scheduled on April 4, 2023, before finally being listed on Indonesia Stock Exchange on April 5, 2023.

TBLA has assigned PT BRI Danareksa Sekuritas, PT CIMB Niaga Sekuritas, and PT Mandiri Sekuritas as the lead underwriters. Meanwhile, PT Bank Tabungan Negara (Persero) Tbk (BBTN) will act as the trustee.

For the record, the bonds issued by TBLA have received an “inaA” (single A) rating from PT Pemeringkat Kredit Indonesia. It is in line with the rating issued on February 17, 2023. (KR/ZH)