PT PP Tbk (PTPP) has set an indicative coupon for sustainable bonds III phase I in 2021, ranging from 8.25-9.75%.

The continuous bonds III phase I have two series, namely series A with an indicative coupon of 8.25-9.25% with a 3-year tenor, and series B with an indicative coupon of 8.75-9.75% with a 5-year tenor.

In this first stage, PTPP will issue a maximum of Rp1.5 trillion of the total target of raising funds of Rp3 trillion in the sustainable bonds III program.

PTPP President Director Noval Arsyad said this sustainable bond received an 'A' rating from PT Pefindo.

"The funds raised will be allocated 69% for refinancing and 31% for the company's working capital," in his statement on Thursday (10/6).

PTPP will offer Rp1.5 trillion, the remaining sustainable bonds III program in the second phase.

PTPP also issues a sustainable sukuk mudharabah III program worth Rp2 trillion and the sustainable bonds I