Depok-Antasari toll road on the progress development. Photo by Waskita Karya.

JAKARTA (TheInsiderStories) – Indonesian toll road developer,  PT Waskita Karya Tbk (IDX: WSKT) raised funds Rp1.84 trillion (US$128.67 million) from a bond issuances. While, its subsidiary PT Waskita Toll Road (WTR), added paid-up capital around Rp2 trillion and placed cash to PT Citra Waspphutowa in the amount of Rp61 billion.

WSKT Management revealed, the offering period had been held on May 13, the allotment was conducted on May 14, and listing today at the Indonesia Stock Exchange.

It said, Series A will mature on May 16, 2022 with a fixed interest rate of 9.0 percent per year. Then Series B mature on May 16, 2024, with a principal amount of Rp1.36 trillion and fixed interest rate of 9.75 percent per year.

Furthermore WTR, injected capital to meet the operational needs of Citra Waspphutowa, said the spokeswoman, Shastia Hadiarti. The unit owned 25 percent at the Depok-Antasari toll road concession holder.

While, other state-owned company, PT PP Tbk (IDX: PTPP) has shares as much as 12.5 percent or worth Rp125.5 billion and toll operator PT Citra Marga Nusaphala Persada Tbk (IDX: CMNP) owns 62.5 percent shares or valued at Rp627.5 billion.

“Initial capital for the construction of the Depok-Antasari toll road space amounted to Rp1 trillion, but then increased to Rp2.12 trillion,” said Hadiarti in an official statement on Thursday (05/16).

She added, if WTR as a shareholder did not increase the capital, it would indirectly affect WKST as a contractor on the toll road construction project owned by Citra Waspphutowa.

US$1 = Rp14,300

Written by Daniel Deha, Email: daniel@theinsiderstories.com

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