JAKARTA. PT Adhi Commuter Properti Tbk (ADCP), a real estate company under PT Adhi Karya (Persero) Tbk (ADHI), will issue Bonds III Year 2023 with a total principal of IDR 499.9 billion.

These bonds will be offered in two series with a tenor set to 3 years for series A and 5 years for series B. The rate of coupons attached to each series of bonds are yet to be announced.

In the initial prospectus, it is said that ADCP will allocate approximately 50% of the proceeds to pay off loan principal owed to PT Bank Tabungan Negara (Persero) Tbk (BBTN). Then, the remaining portion will be allocated to construction of LRT City Tebet and LRT City Cibubur.

The offering period will take place until November 23, 2023. Then, the public offering will follow on December 4-5, 2023, concluded with the listing on Indonesia Stock Exchange (IDX) on December 11, 2023.

ADCP has appointed PT CIMB Niaga Sekuritas and PT Mandiri Sekuritas as the lead underwriter and underwriter for this bonds’ issuance. Meanwhile, PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk (BJBR) has been asked to be the trustee. (KR/ZH)