Jakarta - PT PP Presisi Tbk (PPRE) has set the interest coupon for sustainable bonds I phase I 2022 in the range of 9.50-10.50%.

Based on the company's prospectus released on Friday (6/24), the number of bonds issued in this first phase is Rp202.980 billion, from the target of funds raised through the Bonds I program of around Rp1 trillion.

In this first stage, the bonds are offered in two series. Series A is worth Rp102.275 billion and has a coupon of 9.50% with a tenor of three years, while Series B is worth Rp100.705 billion and has a coupon of 10.50% with a tenor of five years.

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

In order to issue this bond, the company has obtained a rating from Pefindo, namely BBB+.

The underwriters are entrusted to BNI Sekuritas, BRI Danareksa Sekuritas, and CIMB Niaga Sekuritas. The trustee is Bank Rakyat Indonesia.

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