PT Sinar Mas Multifinance Tbk plans to issue sustainable bonds II phase II in 2021 with a principal amount of up to Rp732.5 billion.

A brief prospectus published on Friday (22/1) shows that the second sustainable bonds phase is part of the sustainable public offering for the second sustainable bond program with a target proceeds of Rp2 trillion.

Continuous bonds II phase II are offered in three series, namely  A series, a 370-day tenor bond worth Rp348 billion with a coupon of 9.75%. B series, a 3-year tenor bond worth Rp333.5 billion with a coupon of 10.50%, and  C series, a 5-year tenor bond worth Rp51 billion with a coupon of 11.50%.

The company has already obtained a bond rating for the bond sale plan from PT Kredit Rating Indonesia, namely "A +."

The company appointed  PT Sinarmas Sekuritas as the underwriter for the bond issuance and Bank Bukopin as the trustee.

According to the prospectus,  the bond offering will be conducted on February 3-5, 2021, the allotment set on February 9, 2021, electronic refunds of orders, and distribution of bonds on February 11, 2021. The bond listing on the IDX will be on February 15, 2021.

The proceeds from the sale of the Sinar Mas Multifinance II phase II sustainable bond 2020 will entirely be used for working capital financing.