JAKARTA. PT Provident Investasi Bersama Tbk (PALM), an investment holding company, plans to issue Shelf-Registration Bond II Phase III Year 2024 with total principal of IDR 1.1 trillion.

The bond is a part of a more extensive public offering program of Shelf-Registration Bond II of PALM with total target proceeds of IDR 5 trillion. Prior to this, the company had issued bond worth IDR 832.91 billion in the same program.

For this Phase III, PALM will offer the bond in 2 series. Series A is offered with total principal IDR 512.29 billion, with a coupon rate of 8%, while series B is offered with principal worth IDR 587.71 billion and a coupon rate of 9.75%.

In the issued prospectus, the management of PALM will utilise the proceeds of the bond issuance to expedite the loan payment to Bank UOB.

Several parties assigned as joint underwriters for PALM’ bond issuance include PT Indo Premier Sekuritas, PT Trimegah Sekuritas Indonesia Tbk (TRIM), PT Sucor Sekuritas, PT Aldiracita Sekuritas Indonesia, and PT KB Valbury Sekuritas. Meanwhile, PT Bank Rakyat Indonesia (Persero) Tbk (BBRI) will step in as a trustee.

The public offering of the bond will take place from September 11 to 12, 2024, followed by the distribution on September 18, and listing on Indonesia Stock Exchange (IDX) on September 19, 2024. (KR/ZH)