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, the Company issued the bonds in three phases.

  1. 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; and
  • Series B: nominal value of Rp 166.5 billion, 9% interest rate, 5 year tenor, due on 3 April 2025.

All proceeds from the bonds issuance has been utilised to finance the Company’s capital expenditure which was 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.

2.  On 22 October 2020,  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. 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; and
  • Series C: nominal value of Rp 548 billion, 10.5% interest rate, 5 year tenor, due on 22 October 2025.

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.

3. On 19 February 2021, the Company issued the third phase of the bonds (SMART Shelf-Registered Bond II Phase III Year 2021) with a principal amount of Rp 825 billion. Below are series of the bonds issued:

  • Series A: nominal value of Rp 225 billion, 7.25% interest rate, 370 day tenor, due on 1 March 2022;
  • Series B: nominal value of Rp 380 billion, 9% interest rate, 3 year tenor, due on 19 February 2024; and
  • Series C: nominal value of Rp 220 billion, 9.5% interest rate, 5 year tenor, due on 19 February 2026.

Proceeds from the bonds issuance will be utilised to pay some of the short-term bank loans and long-term bank loans of the Company which is the principal installments at their maturity.

Rating on the outstanding bonds is idA+ (Single A+) with Stable outlook, which was issued by PT Pemeringkat Efek Indonesia (PEFINDO) on 12 January 2021.