By M Zaki Mubarok
Gold and copper miner PT Merdeka Copper Gold Tbk (IDX: MDKA) announced on Friday plans for a sustainable public bond offering program with a target of IDR 15 trillion (approximately USD 960 million).
The first phase of the bond issuance will involve a principal amount of up to IDR 1 trillion (around USD 64 million). These bonds will be offered in two series: Series A with a tenure of 367 days and Series B with a three-year term. Interest will be paid quarterly, with initial payments scheduled for March 2025.
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According to the company, the funds raised will support Merdeka Copper Gold’s extensive mining operations across Indonesia. Key sites include Banyuwangi in East Java, Wetar Island in Maluku, Pohuwato in Gorontalo, and Konawe in Southeast Sulawesi. The company also operates processing facilities in Maluku and Central Sulawesi.
The bonds are rated A+ by PT Pemeringkat Efek Indonesia (PEFINDO), reflecting a strong credit profile. The bonds are not secured by specific collateral but are backed by the company’s total assets as per Indonesian civil law provisions.
Editing by Alexander Ginting
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