Jakarta - PT PP Presisi Tbk (PPRE) plans to issue sustainable bonds I phase I in 2022 worth Rp500 billion.

According to the company's prospectus, released on Tuesday (5/31), this bond issuance is part of a Rp1 trillion fundraising target.

In the first stage, bonds are offered in two series. Series A has a tenor of 3 years, and Series B has a tenor of 5 years.

The company plans to use 70% of the proceeds from the bond issuance for capital expenditures and the other 30% for working capital.

To issue this bond, the company has obtained a rating from Pefindo,  BB+.

Meanwhile, the company has entrusted the underwriters  to BNI Sekuritas, BRI Danareksa Sekuritas, and CIMB Niaga Sekuritas. Its trustee is PT Bank Rakyat Indonesia Tbk (BBRI).

The initial offering period is scheduled to run from May 30 to June 13, 2022, with the effective date on June 23, 2022, the public offering period on June 27, 2022, allotment on J