Jakarta - PT Kawasan Industri Jababeka Tbk (KIJA) plans to issue new bonds worth US$185.856 million.

Based on the company's disclosure released on Friday (12/23), these bonds have a payment maturity date of 2027, with tenors from the first to fifth years, respectively, 7%, 7.5%, 8%, 8.5%, and 9%.

The issuance value of these new bonds is equivalent to 41.62% of the company's equity.

All funds obtained from the issuance of the new notes will be used to exchange some of the old bonds, and a total of US$79.662 million has been paid using funds obtained from the Mandiri credit facility.

The old notes amounting to US$300 million will mature in October 2023. The notes have a coupon of 6.50%.

The company expects the issuance of new debt securities will improve the loan maturity profile and reduce the company's credit risk.