SMN Group sustainability update: Protelindo completes Rp 3.349 trillion bonds issuance
Tower · Monday, 20 December 2021 12:00
Protelindo has concluded issuance of local bonds of Rp 3.349 trillion last Friday as part of its shelf registered bonds that started in August 2020. The bonds were distributed on December 17 under 1, 3 and 5 year tenors with annual fixed rate coupon of 3.6%, 5.3% and 6.1%, respectively. The issuance was rated AAA by Fitch Ratings Indonesia which was the same rating assigned to Protelindo before assuming the acquisition and consolidation of STP operations and debt financing. All of the net proceeds of the issuance will be applied towards refinancing of Protelindo’s existing indebtedness including the debt to acquire STP.
“These bonds issuance is the largest that we have ever done and with a very efficient local currency fixed rates in the midst of a very conducive market. We plan on continuous evaluation and seeking to capitalise best momentum for fixing company capital structure for the future including considering more bonds issuances and/or using bank facilities,” said Aming Santoso CEO of SMN.
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