JAKARTA - PT Petrosea Tbk (PTRO) will allocate IDR 600 billion of the proceeds of Bond and Sukuk Ijarah offering worth IDR 1.5 trillion for material purchase. The bond and sukuk is offered starting from today (9/12) until tomorrow (10/12).

As mentioned in the prospectus, the allocation of the proceeds is split into 40% for material and service purchases from non-affiliates, 27% or IDR 405 billion for operation and equipment purchase, 25% or IDR 375 billion for covering labour costs, and IDR 120 billion remaining for covering other operational expenses.

It is mentioned that this Barito Group’s arm will issue Shelf-Registration Bond and Sukuk Ijarah I Phase I Year 2024 of IDR 1 trillion and IDR 500 billion each, both offered in 4 series.

For the bond, series A is offered for IDR 47 billion with yield of 6.50% per annum (p.a.) for 367 days, series B of IDR 171.64 billion with yield of 8% p.a. for 3 years, series C of IDR 465.4 billion with yield of 8.75% p.a. for 5 years, and series D of IDR 315.96 billion with yield of 9.50% p.a. for 7 years.

In the meantime, for sukuk, series A is offered for IDR 33 billion with ijarah yield of IDR 2.14 billion p.a. for 367 days, series B of IDR 128.36 billion with ijarah yield of IDR 10.26 billion p.a. for 3 years, series C of IDR 254.6 billion with ijarah yield of IDR 22.27 billion for 5 years, and series D of IDR 84.04 billion with ijarah yield of IDR 7.98 billion p.a. for 7 years.

For the record, the new mining contract portfolio obtained in 2024 consists of projects from Pasir Bara Prima and Global Bara Mandiri. Meanwhile, for engineering and industrial contracts are commissioned by BP Berau, Vale Indonesia, and Daya Bumindo Karunia. (LK/ZH)