JAKARTA - PT Summarecon Agung Tbk (SMRA) will issue Shelf-Registration Bond IV Phase III Year 2024 worth ID 1.3 trillion t the end of May 2024. Nearly 50% of total proceeds of this bond issuance will be used as capital investment in its subsidiary.

In the prospectus quoted Monday (13/5), the bond will be issued in Series A of IDR 329 billion and Series B of IDR 971 billion. Series A is offered with an interest rate of 8.25% per annum for 3 years, while series B has a term of 5 years and interest rate of 9.30% per annum.

The proceeds of the bond issuance will be utilised for investment in PT Summarecon Poperty Development (SMPD) worth IDR 606.23 billion, payment of Series B of Shelf-Registration Bond III Phase II Year 2019 maturing on October 15, 2024, worth IDR 200 billion, and working capital for SMRA worth IDR 469.62 billion.

The assigned underwriters are PT Indo Premier Sekuritas, with 60% portion, and PT BNI Sekuritas of another 40%. The trustee is said to be PT Bank Rakyat Indonesia (Persero) Tbk (BBRI).

As of March 2024, Summarecon recorded total assets of IDR 31.83 trillion, consisting of current assets of IDR 15.55 trillion and non-current assets of IDR 16.27 trillion. (LK/ZH)