PT Wijaya Karya is set to offer Rp5.4 trillion. State-owned construction firm PT Wijaya Karya is set to offer Rp5.4 trillion (US$405.46 million) in Komodo bonds, a move that follows state-owned toll road operator PT Jasa Marga, which listed its global rupiah bonds on the London Stock Exchange (LSE).
WIKA signed on Monday a purchase agreement with BNP Paribas, the Hong Kong and Shanghai Banking Corporation Limited, Mandiri Sekurities and MUFG Securities Asia Ltd. They will act as initial purchasers.
The debt papers are offered outside Indonesian territory, in line with the 1933 United States Securities Act.
“Nine days after deciding the price, Wijaya Karya will sign an indenture with Bank New Work Mellon, which will act as trustee,” said WIKA corporate secretary Puji Haryadi during an information transparency event at the Indonesia Stock Exchange (IDX) in Jakarta on Wednesday as reported by kontan.co.id.
The revenue from the bond sales will be used, among others, to pay debts, as capital expenditure and working capital. PT Wijaya Karya is set to offer Rp5.4 trillion.
In the middle of December, state-owned toll road operator Jasa Marga listed its global rupiah bonds on the LSE. Jasa Marga aims to collect Rp4 trillion (US$280 million) from the debt papers. (bbn, The Jakarta Post)