Jakarta - PT Indah Kiat Pulp and Paper Tbk (INKP) plans to issue bonds worth Rp3 trillion.

Based on the prospectus released Friday (8/7), the details of the bonds issued are Sustainable Bonds III Phase I 2022 worth Rp2 trillion and Sustainable Sukuk Mudharabah II Phase I 2022, amounting to Rp1 trillion.

The number of bonds issued in the first phase is part of the ongoing public offering III with a target of obtaining funds of Rp. 7 trillion, while PUB sukuk mudharabah II aims to raise funds of Rp3 trillion.

The company plans to use 60% of the proceeds from the issuance of bonds and sukuk mudharabah for debt payments and the rest for working capital.

In this first stage, mudharabah bonds and sukuk are offered in three series, Series A with a tenor of 370 days, series B for three years, and series C for five years.

In the context of bonds and the sukuk mudharabah sale program, the company has obtained a rating from Pefindo, A+ and A+(s