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 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.

Rating on the SMART Shelf-Registered Bond II is idA+ (Single A+) with Stable outlook, which was issued by PT Pemeringkat Efek Indonesia (PEFINDO) on 12 January 2021.

On June 2021, the Company made a public offering of SMART Shelf-Registered Bond III Year 2021 with a principal amount of Rp 5 trillion. With regards to this programme, the Company has issued bonds for Phase I on June 10, 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.

Proceeds from the bonds issuance will be 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, and also some of the principal of the bonds payable at their maturity.

Rating on the SMART Shelf-Registered Bond III Year 2021 is idA+ (Single A+), which was issued by PT Pemeringkat Efek Indonesia (PEFINDO) on 22 March 2021.