Chandra Asri (TPIA) Set to Issue Bonds Worth IDR 1.5 Trillion

CORPORATE ACTION – JAKARTA. PT Chandra Asri Pacific Tbk (TPIA) will issue a bond. This integrated petrochemical producer issuer will issue the Continuous Bond IV Chandra Asri Pacific Phase IV Year 2024 with a value of IDR 1.5 trillion

In the disclosure of information on the Indonesia Stock Exchange, Monday (12/2), this bond will be issued in 3 series

Series A Bonds with a principal amount of IDR 542.37 billion, with a fixed interest rate of 7.95%. Series A bonds have a term of 3 years from the date of issuance

Then, Series B Bonds with an issuance value of IDR 416.80 billion and with a fixed interest rate of 8.25% per year. Series B bonds have a term of 5 years

Finally, Series C Bonds with an issuance reaching IDR 540.82 billion and with a fixed interest rate of 8.75% per year, with a term of 7 years from the date of issuance.

The first bond interest payment will be made on June 1, 2024, while the last bond interest payment will be made on the date of principal bond repayment, which is on March 1, 2027 for Series A Bonds, March 1, 2029 for Series B Bonds, and March 1, 2031 for Series C Bonds.

The maturity date of each series is on March 1, 2027, March 1, 2029, and March 1, 2031.

The net funds obtained from the issuance of these bonds will be used entirely by TPIA for working capital needs, including the purchase of production raw materials and operational costs for business activities.

TPIA has obtained a rating for the long-term bond debt, which is idAA- (Double A Minus) from PT Pemeringkat Efek Indonesia (Pefindo)

Acting as the bond issuance guarantor are PT BCA Sekuritas, PT BNI Sekuritas, PT DBS Vickers Sekuritas Indonesia, PT Kb Valbury Sekuritas, PT RHB Sekuritas Indonesia, PT Sucor Sekuritas, and PT UOB Kay Hian Sekuritas. PT Bank Tabungan Negara (Persero) Tbk (BBTN) acts as the trustee in this bond issuance.

Here is the estimated schedule of TPIA bond offerings:

Estimated Public Offering Period: February 23 - 27, 2024
Estimated Allocation Date: February 28, 2024
Estimated Date of Return of Booking Money: March 1, 2024
Estimated Date of Electronic Distribution of Bonds (Issuance Date): March 1, 2024
Estimated Date of Listing on the Indonesia Stock Exchange: March 4, 2024

Just so you know, this bond is part of the continuous public offering of the Continuous Bond IV Chandra Asri Petrochemical with a target fund to be raised of IDR 8 trillion.

Previously, TPIA has issued 3 bonds, namely the Continuous Bond IV Chandra Asri Petrochemical Phase I in 2022 worth IDR 2 trillion, the Continuous Bond IV Chandra Asri Petrochemical Phase II Year 2023 worth IDR 1.25 trillion, and the Continuous Bond IV Chandra Asri Petrochemical Phase III in 2022 with a principal bond amount of IDR 1 trillion.