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Aneka Gas Industri Maturity Bond Refinancing

By administrator | November 4, 2020 | Investment.
Aneka Gas Industri Maturity Bond Refinancing
Illustration: Aneka Gas Industri Maturity Bond Refinancing

Aneka Gas Industri Maturity Bond Refinancing. In order to meet funding needs and debt refinancing. Apart from bonds, the company also collects funds through the issuance of sukuk. Indonesia Stock Exchange Development Director Hasan Fawzi said sukuk issuance on the capital market this year reach more than Rp 30 trillion from a number of corporations.

Sukuk instruments continue to be issue, from the corporate side. In the midst of a pandemic of more than Rp 77 trillion in fundraising in our capital market. There are more than Rp. 30 trillion more in new sukuk this year and Rp. 830 trillion in total state sukuk, Hasan said, Monday (5/10/2020).

Referring to the data from PT Pemeringkat Efek Indonesia, there are several issuers that issue sukuk. For example, the telecommunications issuer, PT Indosat Tbk (ISAT), through the issuance of the Sukuk Ijarah II Phase II Year 2017 Series B which will mature in November with total emissions of Rp 260 billion.

Furthermore, there is PT XL Axiata Tbk (EXCL), which raise IDR 323 billion through Sustainable Sukuk Ijarah I Phase I 2015 Series C which will mature in December. PT Aneka Gas Industri Tbk (AGII) also issue Sustainable Sukuk Ijarah I Phase II Year 2017 Series A with a principal value of IDR 107 billion and maturing in December.

Maturity Bond Refinancing Through Sukuk Ijarah

Aneka Gas Industri Maturity Bond Refinancing
Illustration: Aneka Gas Industri Maturity Bond Refinancing

Meanwhile, recently, the telecommunication service company that won the West Palapa Ring tender, Moratelindo, issue a sustainable sukuk ijarah I phase III in 2020 amounting to IDR 389.51 billion. This sukuk consists of two series, first, Series A with a value of Remaining Ijarah Rewards of Rp. 333,365 billion.

And Series B with a value of Remaining Ijarah Rewards of Rp. 56,150 billion. 75% of the proceeds obtain from the issuance of sukuk are use for refinancing needs, and the remaining 25% will be allocate for investment needs, namely for backbone and access including passive and active equipment and infrastructure.

In addition, it will also be used for the construction of inland cables, ducting and infrastructure support devices. The underlying assets in the issuance of the Sukuk Ijarah (Ijarah Objects) are the beneficial rights to the Company’s backbone and access, said Henry R Rumopa, Corporate Secretary of Moratelindo, in his statement, Wednesday (7/10).

The company conduct a public offering on October 2, 2020, distribute electronically on October 7, 2020. Meanwhile, listing on the Indonesia Stock Exchange (IDX) is schedule for Thursday, October 8, 2020.

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