JAKARTA. PT Mandala Multifinance Tbk (MFIN) arranges the issuance of Shelf-Registration Sukuk Mudharabah I Phase III Year 2023 with a total principal of IDR 500 billion.

This round of issuance is a part of a more extensive public offering of Shelf-Registration Sukuk Mudharabah I of MDIN, aiming to raise a total of IDR 1.5 trillion. Prior to this, the company had issued Sukuk Mudharabah of IDR 350 billion in 2021 and another of IDR 650 billion in 2022.

In this third phase of sukuk issuance, MFIN offered 2 series of sukuk mudharabah. Series A is offered with a principal of IDR 300 billion and a profit-sharing yield of 7% per annum. Meanwhile, series B has a principal of IDR 200 billion, equipped with a profit-sharing yield equivalent to 8.50% p.a.

MFIN has secured an "idA(sy)" from Pefindo regarding this sukuk mudharabah issuance. The public offering period will last from June 15 to 16, 2023, followed by the distribution on June 22 and the listing on June 23.

The management of MFIN mentioned that the proceeds of this sukuk issuance will be utilised as working capital for sharia financing. The capital will then be channelled through sharia business unit of MFIN, as the applicable regulation has stated. (KR/ZH)