JAKARTA. PT Lontar Papyrus Pulp & Paper Industry, a pulp and tissue producer belonging to the Sinarmas Group, will issue Shelf Registration Bonds III Phase I/2024 and Shelf Registration Mudharabah Sukuk I Phase I/2024 with a total principal amount of IDR 2.5 trillion.
The principal amount to be issued by Lontar Papyrus Pulp & Paper for the bonds and mudharabah sukuk is IDR 1.25 trillion each. Each debt security will be issued in 3 series, with tenors ranging from 370 calendar days to 5 years.
The initial offering period for bonds and sukuk issued by Lontar Papyrus Pulp & Paper will take place on 10-18 September 2024. The public offering is expected to take place on 30 September 2024 and listing on the Indonesia Stock Exchange (BEI) on 4 October 2024.
Lontar Papyrus Pulp & Paper has received “idA” and “idA(sy)” ratings for the bonds and sukuk it will issue.
In general, around 80% of the proceeds from the issuance of bonds and sukuk will be used to pay principal and interest on debt. The remainder will be used for the companys working capital. (KR/LM)