In 2012, PT SMART Tbk (SMART) made a public offering of a bond programme (Penawaran Umum Berkelanjutan Obligasi Berkelanjutan I SMART) 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/2012) with a principal amount of Rp 1 trillion.
Below are series of the bonds issued:
- Series A: nominal value of Rp 900 billion; 9.00% interest rate; 5 year tenor, due on 3 July 2017. A series bonds have been settled on June 22, 2017.
- Series B: nominal value of Rp 100 billion; 9.25% interest rate; 7 year tenor, due on 3 July 2019
Ratings on the issued bonds are:
- PT Fitch Ratings Indonesia, as per 2 February 2017: Positive Outlook; AA(idn)
- PT Pemeringkat Efek Indonesia (Pefindo), as per 10 April 2017: Stable Outlook; idA+
Until 31 December 2013, the proceeds from the bonds had been fully utilised to finance the capital expenditures for expansion of downstream facilities of the Company amounting to Rp 594 billion and for working capital of Rp 396 billion.