PT Sri Rejeki Isman Tbk (SRIL) decided to postpone issuing bonds denominated in dollars with a principal amount of up to US$ 325 million.

"We have decided to postpone the plan to issue new debt securities denominated in US dollars which are offered to investors outside Indonesia," said Sritex Finance Director Allan Moran Severino in the IDX disclosure on Thursday (28/1).

He reasoned that Sri Rejeki delayed the plan to issue new debt securities given the unsupportive market conditions.

Previously the company had reported that the global bond would be guaranteed by PT Bitratex Industries (BIS) and PT Primayudha Mandirijaya (PMJ). The two companies are corporate business entities.

Bonds will be offered to investors outside the territory of Indonesia, so they are not included in a public offering in Indonesia based on the provisions of Law No. 8 of 1995 concerning the Capital Market and not a limited offering based on OJK Regulation No. 30 / POJK.04 / 2019 concerning Issuance of Debt Securities and/or Sukuk That Have Been Made Without Public Offering.

After the bonds are issued and offered, they will be registered and quoted in the SGT-ST official list.