JAKARTA. PT Sarana Multigriya Finansial (SMF), a State-owned Enterprise engaged in the secondary housing financing, will issue Shelf-Registration Bonds VII Phase II Year 2023 with a total principal of IDR 2.77 trillion. 

Said bonds are a part of a Public Offering Program of Shelf-Registration Bonds VII of SMF, targeting to raise funds of up to IDR 19 trillion. Prior to this, SMF had issued its first-phase bonds worth IDR 1.21 trillion. 

For this upcoming second phase of bonds' issuance, SMF will offer bonds in three series. Approximately IDR 1.21 trillion will be offered in series A, another IDR 256 billion through series B, and IDR 1.3 trillion through series C. 

Series A will be offered with a coupon of 6.19% per annum (p.a.) and a tenor of 370 days, while series B has a coupon of 6.32% p.a. and a tenor of 3 years. Lastly, series C has a coupon rate set to 6.75% p.a. and a 5-year tenor. 

The public offering of these bonds will take place on October 11-17, followed by the distribution on October 20. Lastly, the listing on Indonesia Stock Exchange (IDX) is set to October 23, 2023.

According to the issued prospectus, SMF will channel all proceeds of this bonds' issuance for financing through financial institution. "Should there be unrealised proceeds of the bonds' public offering, the company must place these funds in a safe and liquid financial instrument, whilst giving fair financial gain," the management of SMF explained. (KR/ZH)