Semen Indonesia to raise Rp3 trillion from bonds issue

JAKARTA (TheInsiderStories) – PT Semen Indonesia Tbk (IDX:SMGR) announced on Friday of its plan to issue bonds, called Sustainable Bond I Phase I 2017, worth Rp3 trillion, the proceeds of which will be used to refinance and fund its projects. The bonds issue is part of the company’s medium term bonds issue plan of Rp8 trillion.

The company is yet to set the coupon of the bonds. The coupon payment will be made quarterly starting Sept 14, 2017 and last payment on Jun. 14, 2022. Semen Indonesia has appointed Bahana Sekuritas, Danareksa Sekuritas and Mandiri Sekuritas as the underwriters of the bonds issue, while BNI has been appointed bank trustee.

Following is the key dates :
– Pre-offering date : May 15-29, 2017
– Effective date : June 7
– Offering date : June 8-9
– Allocation date : Jun 12
– Listing on the Indonesian Stock Exchange : June 15.

Semen Indonesia said it will use Rp1.37 trillion of the bonds proceed to pay portion of its loan syndiction to a number of banks, namely Bank Mandiri (Rp669.93 billion), BRI (Rp386.75 billion), BCA (Rp193.45 billion), Exim Bank (Rp77.38 billion), BPD Jawa Timur (Rp38.69 billion) and PT Bank Sulselbar Rp5.76 billion.

The total syndication loan of Rp1.37 trillion has been used by the company to build its project expansion of Semen Tonasa V plant and Power Plant Tonasa. The syndication loan will maure on Jun. 22, 2019 and will be repaid in stages.

The remaining proceeds of the bonds issue will be used to strengthen the company’s capital. (*)