Our Shared Values
Our Business
Our Foundations
Our Achievements
Our Governance
Conservation Management & Monitoring
Climate Change
Community Engagement
Partnerships & Memberships
Human Rights & Labour
Responsible Sourcing
Responsible Production
Certifications
Sustainability Report
Consumer Products
Food Services
Oleochemicals
Biofuel
Food & Nutrition Innovation
Press Releases
Blogs
Meet Our Experts
Gallery
Publication
Shareholder Information
Disclosure of Information
Financial Information
Prospective Suppliers
Support for Palm Suppliers
FAQ Palm Suppliers
Existing Suppliers
Graduates & Professionals
Scholarships
Internships
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.
All proceeds from the bonds issuance has been 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.
All proceeds from the bonds issuance has been utilised to repay some of the short-term bank loans and long-term bank loans of the Company which are the principal installments at their maturity.
In June 2021, the Company made a public offering of SMART Shelf-Registered Bond III Year 2021 with total principal amount of Rp 5 trillion. With regards to this programme, the Company has issued the bonds in three phases.
1. On 10 June 2021, the Company issued the first phase of the bonds (SMART Shelf-Registered Bond III Phase I Year 2021) with a principal amount of Rp 1.5 trillion. Below are series of the bonds issued:
- Series A: nominal value of Rp 600 billion, 6.75% interest rate, 370 day tenor, due on 20 June 2022;
- Series B: nominal value of Rp 600 billion, 8.75% interest rate, 3 year tenor, due on 10 June 2024; and
- Series C: nominal value of Rp 300 billion, 9.25% interest rate, 5 year tenor, due on 10 June 2026.
All proceeds from the bonds issuance has been utilised to settle some of the principals of the Company’s short-term bank loans, partial principal installments of long-term bank loans at maturity, and some of the principal of bonds payable at maturity.
2. On 19 October 2021, the Company issued the second phase of the bonds (SMART Shelf-Registered Bond III Phase II Year 2021) with a principal amount of Rp 2.5 trillion. Below are series of the bonds issued:
- Series A: nominal value of Rp 477 billion, 6.00% interest rate, 370 day tenor, due on 29 October 2022;
- Series B: nominal value of Rp 1.065 trillion, 8.50% interest rate, 3 year tenor, due on 19 October 2024; and
- Series C: nominal value of Rp 958 billion, 9.00% interest rate, 5 year tenor, due on 19 October 2026.
All proceeds from the bonds has been utilised around 66% for the Company’s remaining capital injection in PT Sumber Indahperkasa (an affiliate), and around 34% for partial principal installments of the Company’s long-term bank loans at maturity and to settle the principal of short-term bank loans at maturity.
3. On 16 February 2022, the Company issued the third phase of the bonds (SMART Shelf-Registered Bond III Phase III Year 2022) with a principal amount of Rp 1 trillion. Below are series of the bonds issued:
- Series A: nominal value of Rp 100 billion, 5.00% interest rate, 370 day tenor, due on 26 February 2023;
- Series B: nominal value of Rp 625 billion, 7.25% interest rate, 3 year tenor, due on 16 February 2025; and
- Series C: nominal value of Rp 275 billion, 8.25% interest rate, 5 year tenor, due on 16 February 2027.
All proceeds from the bonds has been utilised to settle some of the principals of the Company’s long-term bank loans at maturity, and some of the principal of bonds payable at maturity.
In June 2022, the Company made a public offering of SMART Shelf-Registered Bond IV Year 2022 with total principal amount of Rp 6 trillion. With regards to this programme, on 6 July 2022 the Company has issued the first phase of the bonds (SMART Shelf-Registered Bond IV Phase I Year 2022) with a principal amount of Rp 1.5 trillion. Below are series of the bonds issued:
- Series A: nominal value of Rp 560 billion, 4.75% interest rate, 370 day tenor, due on 16 July 2023;
- Series B: nominal value of Rp 538 billion, 7.00% interest rate, 3 year tenor, due on 6 July 2025; and
- Series C: nominal value of Rp 402 billion, 8.00% interest rate, 5 year tenor, due on 6 July 2027.
Proceeds from the bonds will be utilised to settle some of the principals of the Company’s long-term bank loans at maturity, and some of the principal of bonds payable at maturity.
Rating on SMART Shelf-Registered Bond II, III and IV are idAA- (Double A-), issued by PT Pemeringkat Efek Indonesia (PEFINDO) in March 2023, including for SMART with Stable outlook.