JAKARTA. PT Dayamitra Telekomunikasi Tbk (MTEL) or Mitratel, a subsidiary of PT Telkom Indonesia (Persero) Tbk (TLKM), will issue Shelf-Registration Bond I Phase I Year 2024 with a total principal of IDR 400 billion and Shelf-Registration Sukuk Ijarah Phase I Year 2024 of IDR 100 billion.

Said bond is a part of a more extensive public offering program of Shelf-Registration Bond with total target proceeds of IDR 2.5 trillion, as well as public offering program of Shelf-Registration Sukuk Ijarah I with total target of raised funds of IDR 500 billion.

MTEL is offering bond and sukuk ijarah phase I with tenor of 370 days. Meanwhile, the coupon or yield for each security has yet to be announced.

The initial public offering phase will take place from June 19 to 25, 2024, while the main public offering will follow on June 28, before being listed on Indonesia Stock Exchange (IDX) on July 5, 2024.

In the prospectus, it is said that MTEL plans to utilise the entire proceeds of bond and sukuk issuance to pay off a portion of principal of its loan to PT Bank Mandiri (Persero) Tbk (BMRI).

For the record, MTEL has secured “idAAA” rating for this upcoming bond, as well as “idAAA(sy)” for the sukuk. (KR/ZH)