Jakarta - PT Bali Towerindo Sentra Tbk (BALI) announced that the fundraising through the sustainable public offering of sustainable bonds I failed to reach the target set at Rp1.6 trillion.

Based on the company's official publication on Tuesday (8/16), the total number of bonds issued was Rp554 billion. Thus, the target of under-collected funds is around Rp1.046 trillion.

The target was not achieved because the company decided to choose other funding sources, namely from the banking sector and financial institutions, which are more affordable and effective sources of funding, especially during the pandemic.

As is known, this bond was issued in 2020 with a coupon of 10.25%. BALI appointed Mandiri Sekuritas, Sinarmas Sekuritas, and Trimegah Sekuritas as underwriters for the issuance, while the trustee was Bank Bukopin.