JAKARTA - PT Petrosea Tbk (PTRO) is targeting fresh funds worth IDR 1.5 trillion via the offering of Bonds and Sukuk Ijarah I Phase II 2025 starting today until next week (13-17/3). The proceeds from the bond issuance will be used to finance mining and industrial engineering projects.

In a brief prospectus quoted on Thursday (13/3), the value of Bonds I Phase II 2025 is IDR 1 trillion and is offered in three series. Series A bonds are offered at IDR 39.20 billion with an interest rate of 7.75% per annum for three years, Series B at IDR 476.20 billion with an interest rate of 8.75% per annum for five years, and Series C at IDR 484.60 billion with an interest rate of 9.30%.

The IDR 500 billion Sukuk I Phase II 2025 is offered in three series. Series A is offered at IDR 59.10 billion with Ijarah return instalments of IDR 4.58 billion per year, Series B at IDR 223.90 billion with Ijarah return instalments of IDR 19.59 billion per year, and Series C at IDR 217 billion with Ijarah return instalments of IDR 20.18 billion per year.

Approximately 67% of the bonds proceeds will be used to purchase materials and services, another 25% as operational costs, and the rest for covering operating expenses.

On the other hand, the company's share price rose 0.32% or IDR 10 to IDR 3,090 entering second session trading on Thursday (13/3). The stock opened at IDR 3,120, with the highest price recorded at IDR 3,170 and the lowest was IDR 3,070 per share.

In a week, the company's shares has dropped 8.58% or IDR 290, and in a month, it fell 9.94% or IDR 340. (LK/LM)