KAI to issue bonds and sukuk with a principal amount of IDR 2 trillion
JAKARTA. PT Kereta Api Indonesia (Persero) or KAI will issue Shelf Registration Bonds II Phase I/2024 with a principal amount of IDR 1.5 trillion and Shelf Registration Sukuk Ijarah II Phase I/2024 with a principal amount of IDR 500 billion.
Each of these debt securities will be offered in 3 series. The principal amount and coupons offered have not been announced, but the tenor for each series is 3 to 7 years.
In the prospectus submitted, KAI will use IDR 1 trillion in proceeds from the bond issuance to refinance Bonds I of 2017 Series B. The remainder will be used to partially refinance Bonds II of 2019 Series A.
Meanwhile, the proceeds from the sukuk issuance will be used to refinance Bond II of 2019 Series A. The remainder will be used to procure goods transportation infrastructure in South Sumatra.
The initial offering period for bonds and sukuk issued by KAI will take place from 1-8 November 2024. The public offering will be held on 13 November 2024 and listed on the Indonesia Stock Exchange on 20 November 2024. (KR/LM)
