JAKARTA – In order to boost its working capital in the long run, PT Hartadinata Abadi Tbk (HRTA) will issue Shelf-Registration Bond II Phase I Year 2024 worth IDR 500 billion. The offering for this bond will take place from June 11 to 13, 2024.

In the short prospectus quoted Friday (26/4), the guarantor of this bond issuance is Credit Guarantee and Investment Facility (CGIF), the trust fund institution under Asian Development Bank (ADB). Meanwhile, the lead and joint underwriters of this bond issuance are said to be PT Bahana Sekuritas, PT BNI Sekuritas, and PT Sucor Sekuritas, while the assigned trustee is PT Bank Rakyat Indonesia (Persero) Tbk (BBRI).

The proceeds of this bond issuance will be used as long-term working capital, among which will be spent on the manufacture of gold jewellery and gold bars, as well as gold retail shop expansion.

As of now, HRTA is managing 4 factories producing gold jewellery with a maximum production capacity of 30 tons of gold jewellery per year. In 2022, it also established one gold refinery facility with a capacity of 15 tons per year.

As of December 2023, HRTA’s outstanding bonds clocked up to IDR 598.20 billion, down 39.93% year-on-year (yoy) from December 2022 position of IDR 995.83 billion. The amount of outstanding bonds has decreased following the payment of a principal of IDR 400 billion maturing in June 2023. (LK/ZH)