The new issuance is aimed to expand financial access for underserved women and to strengthen PNM’s contribution to inclusive and sustainable development. Therefore, they have issued two financial instruments: Orange Sustainable Bonds I PNM Phase IV of 2026 and Orange Sustainable Mudharabah Sukuk I PNM Phase V of 2026. The instruments have tenors of one year and three years, with coupon rates of 7.05 percent and 7.10 percent per annum, respectively.

The two financial instruments are aligned with the Orange Bond Principles, which promote gender-responsive capital allocation, capacity building and diversity, as well as transparency. These principles closely align with PNM’s core business, particularly its Mekaar program, which provides direct financing access to women operating ultra-micro businesses across Indonesia, including in remote areas.

The success of this issuance is particularly significant amid global financial market uncertainty, driven by rising oil prices, ongoing geopolitical conflicts and fluctuations in inflation and interest rates. Despite market conditions showing no significant improvement at the time of issuance, PNM received a positive response from investors.

Furthermore, the issuance also carries a social purpose to strengthening financing capacity for women, who play an important role in the ultra-micro business ecosystem. As explained by PNM President Director Kindaris, the Orange Bonds provide a way for PNM to secure funding that aligns with its mission to empower women through accessible finance that are aimed to develop their businesses gradually.

“For PNM Mekaar customers, financing creates opportunities to sustain their businesses, expand their capacity and gradually improve their families’ welfare. Through Orange Bonds and Orange Sukuk, we want to ensure that access to financing continues to grow stronger and delivers tangible benefits for ultra-micro women entrepreneurs,” Kindaris said.

The financial assistance is further boosted by group meetings and ongoing mentoring activities for Mekaar customers designed to strengthen their business capabilities in order to ensure that women can face the challenges that they may encounter in the future.

This latest issuance also demonstrates PNM’s continued commitment to developing financing solutions with a strong social impact.

“We want to build sustainability. When a woman has the opportunity to grow her business, the benefits extend beyond herself. Her family grows alongside her, and the surrounding economic community also becomes more active. This is the impact we aim to continue creating through empowerment,” Kindaris added.

The two instruments were distributed on September 18 and listed on the Indonesia Stock Exchange on September 21.

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