JAKARTA. PT Provident Investasi Bersama Tbk (PALM), a palm plantation of Saratoga Group, will raise fresh funds of IDR 750 billion by issuing its Shelf-Registration Bonds I Phase I Year 2023.

The bonds are included as a part of a more extensive public offering of Shelf-Registration Bonds I of PALM with a total target of IDR 1.5 trillion.

In the first phase of bonds issuance, PALM offered bonds in two series with a principal of IDR 268 billion for series A and IDR 482 billion for series B. Series A bonds are offered with an annual fixed interest rate of 6.75% and a tenor of 370 days, while series B will be equipped with an annual fixed interest rate of 8.50% and a tenor of 3 years.

The public offering of the bonds will begin from March 20 to 21, 2023, followed by the distribution of said bonds on March 28, 2023. The listing will conclude the process on March 29, 2023.

The parties that have been assigned as the underwriters for PALM’s bonds issuance are PT Indo Premier Sekuritas, PT Sucor Sekuritas, PT Trimegah Sekuritas Indonesia Tbk (TRIM) and PT UOB Kay Hian Sekuritas. (KR/ZH)