Jakarta - PT Bali Towerindo Sentra Tbk (BALI) issues a phase I 2022 sustainable sukuk ijarah with a remaining ijarah imbalance of Rp221 billion.

The company's prospectus, published on Tuesday (12/13), stated that this sukuk ijarah has two series. Series A is worth Rp 200 billion and has a tenor of 370 days, while Series B amounts to Rp 21 billion and has a tenor of 3 years.

The number of issuance of the first phase of sukuk ijarah is part of the fundraising target of Rp2 trillion.

BALI will use approximately 70% of the proceeds from the sukuk ijarah offering for investment in developing and expanding the company's fiber-optic cable network, and the remainder for working capital.

In the context of issuing this sukuk ijarah, the company has obtained a rating from Pefindo 'A-' and Fitch Ratings Indonesia 'A-'.

The company has appointed the underwriters for the issuance of the sukuk ijarah BRI Danareksa Sekuritas