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Indosat Ooredoo Hutchison issues bonds and ‘ijarah sukuk’ for first phase of 2022
Indosat Ooredoo Hutchison (IOH) is holding an investor gathering today regarding the public offering of shelf-registration bonds IV Indosat Phase I Year 2022, and shelf-registration ijarah sukuk (sharia bonds) IV for Indosat Phase I Year 2022.
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(Courtesy of Indosat Ooredoo Hutchison)
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ndosat Ooredoo Hutchison (IOH) is holding an investor gathering today regarding the public offering of shelf-registration bonds IV Indosat Phase I Year 2022, and shelf-registration ijarah sukuk (sharia bonds) IV for Indosat Phase I Year 2022. The proceeds after deducting the issuance costs will be used to repay the company’s debts in rupiah.
The shelf-registration IV Indosat amounts to IDR 15 trillion, consisting of IDR 10.5 trillion in shelf-registration bonds IV Indosat and IDR 4.5 trillion in shelf-registration ijarah sukuk IV Indosat. Within the framework of the shelf offering of shelf-registration IV Indosat phase I, 2022, IOH aims to issue bonds of up to IDR 1.75 trillion and IDR 750 billion in ijarah sukuk.
The book-building process will be carried out from September.14 to 27. The company is expected to receive an effective statement from the Financial Services Authority (OJK) on October. 17 and both bonds will be listed in the Indonesia Stock Exchange (IDX) on October. 27. The bonds and the ijarah sukuk’s composition will be determined after the completion of the book-building process.
The issuance is supported by a team of lead underwriters consisting of PT BCA Sekuritas, PT CIMB Sekuritas Indonesia, PT DBS Vickers Sekuritas Indonesia, PT Indo Premier Sekuritas, PT Mandiri Sekuritas, PT BRI Danareksa Sekuritas and PT Trimegah Sekuritas Indonesia Tbk. PT Bank Rakyat Indonesia (Persero) Tbk. acts as trustee with legal counsel by Hadiputranto, Hadinoto & Partners. Member firm of PwC, public-accounting office (KAP) Tanudiredja, Wibisana, Rintis & Rekan, is an independent auditor, with Nanette Cahyanie Handari Adi Warsito as the notary.
IOH achieved a triple-A rating for bonds and triple-A syariah rating for ijarah sukuk from the private-credit bureau PT Pefindo.
“The issuance of bonds and sukuk ijarah is part of the IOH’s longterm plan to enlarge
and diversify its funding sources to support our business development. We are
confident that this will have a positive impact on the company in the future.” said president director and CEO of Indosat Ooredoo Hutchison, Vikram Sinha.
At the end of the six-month period on June 30, the company booked a net profit of Rp 3.26 billion. In addition, the company saw a 50.3 percent increase from Rp 15 billion to Rp 22.52 billion from the same period last year.
In 2022, Indosat Ooredoo Hutchison finalizes its merger process while deciding to maintain the two brands’ companies, IM3 and Tri. After the merger, IOH’s customers increased by 59.7 percent to 96.2 million people at the end of June. The expansion in customer base was followed by a data-traffic growth of 98.2 percent compared to June 2021. The company also boasts an improved network coverage along with the increase of 4G base transceiver stations (BTS) to 123,901, enabling better management of high-traffic increase.
