JAKARTA (TheInsiderStories) – The operator of 19 airports in Indonesia, PT Angkasa Pura II or AP II, issued bonds worth Rp2.25 trillion (US$155.17 million) divided into four series, the company announced on Tuesday (07/28). Most of the funds will be used for capital expenditure and paying off the corporate debts.
Based on the prospectus to Indonesia Stock Exchange, the company offers Series A with worth of Rp32 billion with a fixed interest rate of 7.80 percent per year with a three-year tenure. Then, Series B amounting to Rp159 billion has a fixed interest rate of 8.50 percent per annum with a term of five years.
Then, Series C of the bonds with values of Rp1.60 trillion with coupon rated 9.10 percent annually and a seven-year tenure and Series D of Rp457 billion with a fixed interest rate of 9.25 percent every year with a tenure of 10 years.
The notes are targeted to be listed on the Indonesia Stock Exchange on August 14. While, the public offering period is predicted in the 7-10 August period. This bond is a part of Angkasa Pura II Sustainable Bonds in 2018 with a total fund target of Rp3 trillion.
To date, AP II has issued bonds totaling Rp750 billion. The airport manager get an idAAA rating from PT Pemeringkat Efek Indonesia. Acting as joint lead underwriters of the emissions are PT Bahana Sekuritas, PT BNI Sekuritas, PT Danareksa Sekuritas, and PT Mandiri Sekuritas.
At present, the company’ creditor are PT Bank Negara Indonesia Tbk (IDX: BBNI), with a total debt balance of Rp394.98 billion with an LPS+3.00 percent interest and will mature on May 28, 2021. Then, PT Bank Maybank Indonesia Tbk (IDX: BNII) worth Rp163.58 billion, with 3-month JIBOR interest+2.61 percent and maturing June 3, 2021. Then, PT Bank Mandiri Tbk (IDX: BMRI) with an LPS+3.00 percent interest will be due June 24, 2023.
Angkasa Pura II is one of the State-Owned Enterprises that is engaged in airport service business and airport-related services. Airports that are managed include Soekarno-Hatta (Jakarta), Halim Perdanakusuma (Jakarta), Kualanamu (Medan), Supadio (Pontianak), Minangkabau (Padang), Sultan Mahmud Badaruddin II (Palembang), Sultan Syarif Kasim II (Pekanbaru), and Husein Sastranegara (Bandung).
Others, Sultan Iskandarmuda (Banda Aceh), Raja Haji Fisabilillah (Tanjungpinang), Sultan Thaha (Jambi), Depati Amir (Pangkal Pinang), Silangit (North Tapanuli), Kertajati (Majalengka), Banyuwangi (Banyuwangi), Tjilik Riwut (Palangkaraya) , Radin Inten II (Lampung), HAS Hanandjoeddin (Tanjung Pandan), and and Fatmawati Soekarno (Bengkulu).
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