By Romel S. Gurky
IDX-listed power producer PT Medco Power Indonesia (MPI), a subsidiary of oil and gas company PT Medco Energi Indonesia Tbk (IDX:MEDC), said it will issue a sharia bond, called Sukuk Wakalah I Phase III year 2024 worth Rp750 billion.
The Sharia bond is part of the sustainable Sharia bond Sukuk Wakalah to be issued by the company with a planned total value of Rp3 trillion.
MPI said in a prospectus that the sharia bond consists of Series A worth Rp175.995 billion with a tenor of 3 years; Series B is worth Rp494.49 billion with a tenor of five years; and Series S valued at Rp79.515 billion with a tenor of seven years.
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The yield of the bond is payable every three months, with the first payment to be made on April 18, 2024, and the last payment to be made on Jan. 18, 2027 for Series A, on Jan. 81, 2029 for Series B, and on Jan. 18, 2031, for Series C.
The company said rating agency PT Pemeringkat Efek Indonesia (Pefindo) has awarded the company rating of idA (single A Sharia).
The company has named PT BNI Sekuritas, PT BRI Danareksa Sekuritas, PT Mandiri Sekuritas and PT Trimegah Sekuritas Indonesia Tbk. Meanwhile, PT Bank Mega Tbk has been named as the Trustee Bank for the Sharia bond issue.
Editing by Roffie Kurniawan
