JAKARTA – PT Lontar Papyrus Pulp & Paper Industry (LPPI), part of the Sinarmas Group, has issued Bonds and Sukuk Mudharabah with a total value of IDR 2.09 trillion.

The proceeds from this corporate action will be used to repay the principal of bonds and sukuk, bank loan instalments, as well as for working capital.

According to a brief prospectus quoted on Monday (10 February), the Shelf-Registration Bonds III Phase II 2025 to be issued are worth IDR 867.82 billion. These bonds are offered in three series.

Series A is valued at IDR 129.21 billion with a tenor of 370 days and a fixed interest rate of 7.25% per annum, while Series B amounts to IDR 412.7 billion with a 10.25% interest rate per annum for three years. Lastly, Series C is valued at IDR 325.91 billion with a fixed interest rate of 10.75% for five years.

The bond underwriters and their portions are as follows: PT Aldiracita Sekuritas Indonesia 20.67%, PT BCA Sekuritas 3.88%, PT BNI Sekuritas 0.14%, PT BRI Danareksa Sekuritas 1.12%, PT Indo Premier Sekuritas 23.11%, PT Korea Investment and Sekuritas Indonesia 16.71%, PT Mandiri Sekuritas Indonesia 8.72%, PT Maybank Sekuritas Indonesia 4.04%, PT Sucor Sekuritas 4.74%, and PT Trimegah Sekuritas Indonesia Tbk (TRIM) 6.88%.

For the Shelf-Registration Sukuk Mudharabah I Phase II 2025, LPPI is offering three series with a total value of IDR 1.23 trillion.

Series A is offered at IDR 520.81 billion with an indicative profit-sharing equivalent of 7.25% per annum for 370 days. Series B is offered at IDR 396.20 billion with an indicative profit-sharing equivalent of 10.25% per annum for three years, while Series C is valued at IDR 313.96 billion with an indicative profit-sharing equivalent of 10.75% per annum for five years.

For the sukuk, the underwriters and their portions are as follows: PT Aldiracita Sekuritas Indonesia 26.17%, PT BCA Sekuritas 2.53%, PT BNI Sekuritas 9.40%, PT BRI Danareksa Sekuritas 10.62%, PT Indo Premier Sekuritas 7.46%, PT Korea Investment and Sekuritas Indonesia 4.06%, PT Mandiri Sekuritas Indonesia 6.09%, PT Maybank Sekuritas Indonesia 10.15%, PT Sucor Sekuritas 13.04%, and PT Trimegah Sekuritas Indonesia Tbk (TRIM) 10.47%. (LK/ZH)