JAKARTA. PT Polytama Propindo (PLTM) will carry out the buyback of Sukuk Ijarah II Year 2021 Series A with a total principal of IDR 104 billion.

The management of PLTM said that the buyback of Sukuk Ijarah II Year 2021 Series A will be carried out through Indonesia Central Securities Depository (KSEI). “The fund will be received as good fund in KSEI account on D-1, and will be distributed to holders of Sukuk Ijarah II Year 2021 Series A on February 26, 2024,” added them in the official statement.

The buyback period will take place starting from this Monday (19/2) until tomorrow (20/2). The good fund of KSEI is projected to be paid off on February 23, 2024.

The management of PLTM mentioned that the buyback of sukuk ijarah will be used to pay off obligations. Therefore, the company will no longer issue repurchased sukuk.

According to IDNFinancials data, sukuk ijarah issued by PLTM had been granted an “idA-sy” from Pefindo, a local rating agency. Then, the company also received an “idA-“ rating for the previously issued Bonds I Year 2020.

“The rating increase reflects the company’s vital and strategic position to Pertamina Group, a solid vertical integration, and high demand for polypropylene products in the domestic market,” added Pefindo in the official statement last week. (KR/ZH)