JAKARTA (TheInsiderStories) – A state run pawning financing and service provider, PT Pegadaian, announced to offers conventional and sharia-based debt securities with a total values of Rp3.25 trillion (US$221.09 million). The bonds divided into conventional bond up to Rp2.42 trillion and SUKUK Rp835 billion.
The notes have a rating from PT Pemeringkat Efek Indonesia idAAA with a stable outlook. The funds obtained from the issuances will use for additional working capital. PT Bahana Sekuritas, PT BNI Sekuritas, PT Danareksa Sekuritas, PT Mandiri Sekuritas and PT Indo Premier Sekuritas help the company for the issuances. This year, the company has released Rupiah bonds Rp1.9 trillion.
Pegadaian estimated the public offering perion on Sept. 16 – 17, the allotment date is Sept. 18, and the listing date is targeted on Sept. 23. These bond is divided into two series, Series A have a principal amount of Rp1.29 trillion with a fixed interest rate of 5.50 percent per annum, with a maturity of 370 calendar days.
Series B with worth of Rp1.12 trillion have a fixed interest rate of 6.45 percent per annum and tenure three years from the date of issuance. The Series A of SUKUK amounting to Rp704 billion offered with revenue sharing, which is calculated based on the multiplication between the SUKUK Mudharabah holder’ ratio with of 18.334 percent of the revenue shared with and indication profit sharing equal to 5.50 percent per annum. The term of the Series A is 370 days.
While, for Series B worth of Rp131 billion with the ratio is 21.50 percent of the shared revenues with an indication of the profit sharing equivalent to 6.45 percent a year. The term of this series is three years. Earlier, the CEO of Pegadaian, Kuswiyoto said, the company has 8,200 agents, 4,200 outlets, 2,200 sales forces, and 800,000 digital pawnshop users.
The pawnshop has channeled Rp34.6 billion for environmental development, which is channeled in the natural disaster sector, education and training, health, public facilities, and religious facilities,” Kuswiyoto ended.
PT Pemeringkat Efek Indonesia reported, as of May 31, that 21 state companies have prepared debt securities with a target up to Rp31.9 trillion in the second semester of 2020.
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