JAKARTA (TheInsiderStories) - Publicly listed firm, PT Wijaya Karya Tbk (IDX: WIKA) has plans to raise funds from the issuance of bond and SUKUK up to Rp2 trillion (US$141.84 million), said the management on Thursday (11/19). The state-owned builder need funds to refinances its Komodo Bond will mature on Jan. 31, 2021.
In detail, the Rupiah bond worth of Rp1.5 trillion and SUKUK as much as of Rp500 billion. The notes divided into three series. Series A have tenure three years, Series B five years, and series C with term seven years.
Wijaya Karya has appointed PT BNI Sekuritas, PT BRI Sekuritas, PT Mandiri Sekuritas, and PT RHB Sekuritas Indonesia as joint lead underwriters. The bond and SUKUK has received a single A rating from PT Pemeringkat Efek Indonesia.
The initial offering period of the notes until Dec. 1, the offering and allotment period is scheduled on Dec. 15 - 16, and planned listing on the Indonesia Stock Exchange on Dec. 21. Currently, there are several overseas projects that have just been worked on by the constructor in the Philippines, Taiwan and the Democratic Republic of Congo with total values over than Rp2 trillion.
Wijaya Karya was appointed as the contractor. The company also working on several projects, including a civil housing project in Algeria. In addition, the builder is also received a renovation project for the Nigerian Presidential Palace.
In Indonesia, the company has been assigned by the government to build several national strategic infrastructure projects such as 16 dams, toll roads for the Serang – Panimbang (Banten) section and Cengkareng – Kunciran toll road. Others are the Fast Train project, Mempawah port, and power plant projects.
This year, Wijaya Karya targets the acquisition of new contracts worth of Rp21.3 trillion, revised from the previous target of IDR 65 trillion. The new contracts that have been realized have reached Rp7 trillion and have received an additional Rp3 trillion from the government’ food estate project.
US$1: Rp14,100
Written by Editorial Staff, Email: theinsiderstories@gmail.com
