JAKARTA – PT Petrosea Tbk (PTRO), the mining company owned by Prajogo Pangestu, is set to issue Bonds and Sukuk Ijarah worth IDR 1.5 trillion. These debt securities will be offered starting next week.

In its prospectus on Tuesday (4/3), PTRO's management revealed that the company would issue the Shelf-Registration Bonds I Petrosea Phase II of 2025, with a total value of IDR 1 trillion in three series, each with tenors of 3, 5, and 7 years, and annual interest rates ranging from 7.75% to 9.30%.

Additionally, PTRO will also issue Shelf-Registration Sukuk Ijarah I Petrosea Phase II of 2025 worth IDR 500 billion, also in three series with similar tenors and yields.

"The proceeds from the issuance will be used for working capital, with 67% allocated for the purchase of materials and services, 25% for labour costs, and the remainder for other operating expenses," the management stated.

PTRO has appointed six underwriters, including PT BCA Sekuritas and PT Danareksa Sekuritas, to ensure the smooth execution of this debt offering. The issuance schedule begins with the public offering on 13-17 March 2025 before listing on the Indonesia Stock Exchange (IDX) on 24 March 2025.

In the first trading session today (4/3), as of 11.17 WIB, PTRO's stock price fell by 6.85% to IDR 3,130 from IDR 3,290 per share. Over the past month, PTRO's stock price has dropped by 19.33%. (DK/ZH)