JAKARTA. PT Adhi Karya (Persero) Tbk (ADHI), a state-owned construction and property developer, will issue public offering of Shelf-Registration Bond IV Phase I Year 2024 with total principal of IDR 1 trillion.

Said bond is a part of a public offering of Shelf-Registration Bond IV with target proceeds of IDR 5 trillion. For this first phase, the bond will be offered in three series.

The tenor for series A bond is 3 years, series B is 5 years, and series C is 7 years. The principal and interest rate of each series have yet to be determined by ADHI.

In the issued prospectus, ADHI will utilise the proceeds of this bond issuance to pay off principal of Shelf-Registration Bond III of ADHI Phase II Year 2021. The remaining portion will be allocated as working capital.

ADHI has secured an “idA-“ rating from Pefindo for this upcoming bond. The joint underwriters assigned for this bond issuance are PT Bahana Sekuritas, PT BRI Danareksa Sekuritas, PT Indo Premier Sekuritas, PT Korea Investment & Sekuritas Indonesia, and PT Samuel Sekuritas Indonesia.

The initial phase of public offering of bond will take place from June 19 to 25, 2024, followed by the main public offering on July 2-4, 2024, before being listed on Indonesia Stock Exchange (IDX) on July 10, 2024. (KR/ZH)