AKR Corporindo to issue Rp1 trillion of bonds

JAKARTA (TheInsiderStories) – PT AKR Corporindo Tbk (IDX:AKRA), a leading fuel and chemical supply chain company, announced its plan on Monday (May 8) to issue Rp1 trillion worth of bonds. The bonds issue is part of the planned Rp2 trillion sustainable bonds to be issued by the company.

The company has appointed BCA Sekuritas, CIMB Sekuritas Indonesia, IndoPremier Sekuritas and Mandiri Sekuritas as underwriters for the bonds issue. The bonds will be divided into two series of bonds, namely series-A bonds with tenor of five years and series B of bonds with tenor of seven years. The company is yet to reveal the value of each series of bonds nor the coupon rate.

The offering date is set on Jun. 6-8, 2017 and followed by listing on the Indonesian Stock Exchange on June 14, 2017. The proceeds of the bonds will be used to strengthen its working capital, mostly to buy fuel to be distributed to customers. (*)