Investors

Bond

In 2012, the Company made a public offering of a bond programme (Public Offering of SMART Shelf-Registered Bond I) amounting to Rp 3 trillion. With regards to this programme, on 4 July 2012, the Company issued the first stage of the bonds (SMART Shelf-Registered Bond I Phase I Year 2012) with a principal amount of Rp 1 trillion. These bonds have been fully settled on 22 June 2017 and 2 July 2019.

In March 2020, the Company made another public offering of a bond programme (Public Offering of SMART Shelf-Registered Bond II Year 2020) amounting to Rp 3 trillion. With regards to this programme, on 3 April 2020, the Company issued the first phase of the bonds (SMART Shelf-Registered Bond II Phase I Year 2020) with a principal amount of Rp 775 billion.

Below are series of the bonds issued:
• Series A: nominal value of Rp 608.5 billion; 8.5% interest rate; 3 year tenor; due on 3 April 2023
• Series B: nominal value of Rp 166.5 billion; 9.0% interest rate; 5 year tenor; due on 3 April 2025

All proceeds from the bonds issuance will be utilised to finance the Company’s capital expenditure which is allocated 67% for enhancing the capability of our refineries to produce high value added products and the remaining 33% for expanding the capacity of our biodiesel plant in South Kalimantan.

Subsequently, the Company issued the second phase of the bonds (SMART Shelf-Registered Bond II Phase II Year 2020) with a principal amount of Rp 1.4 trillion on 22 October 2020.

Below are series of the bonds issued:
• Series A: nominal value of Rp 572 billion; 8% interest rate; 370 day tenor; due on 2 November 2021
• Series B: nominal value of Rp 280 billion; 9.75% interest rate; 3 year tenor; due on 22 October 2023
• Series C: nominal value of Rp 548 billion; 10.50% interest rate; 5 year tenor; due on 22 October 2025

The entire proceeds from the bonds issuance will be utilised around 42% to finance the completion of the capacity expansion of the Company’s biodiesel plant located in South Kalimantan, around 29% to repay the principal installments of the Company’s long-term bank loans at their maturity, which is a partial payment of the long-term bank loans, and the remaining 29% for the Company’s working capital needs.

Rating on the outstanding bonds is idA+ (Single A+) with Stable outlook, which was issued by PT Pemeringkat Efek Indonesia (PEFINDO) on 16 January 2020 and reconfirmed on 28 September 2020.