Continuous Public Offering of the Phase 1 Year 2022 Bonds (“Bonds”) PT PP Presisi Tbk
On July 1, 2022 PP Presisi (the Company) issued a Continuous Public Offering of the Phase 1 Year 2022 Bonds (“Bonds”) which were officially listed on the Indonesia Stock Exchange (IDX) with a value of Rp202.98 billion. The Company's Bonds Phase 1 consists of Two Series consisting of Series A with a Bond Principal Amount of Rp102.27 billion, with a fixed bond interest rate of 9.50% per year with a bond term of 3 years from the issuance date or until June 30, 2025. Series B with Principal Amount of Bonds offered is Rp100.70 billion with an interest rate of 10.50% per annum with a term of 5 years on 30 June 2027.
The company has carried out a rating by PT Pemeringkat Efek Indonesia (Pefindo) with the results of a rating on the idBBB+ (triple B Plus) bonds based on data and information from the Company as well as the Company's Financial Statements as of December 31, 2021 which has been audited by the Public Accountant Office, where the allocation 70% of the funds will be used for the Company's Capital Expenditure, namely the addition of the Company's heavy equipment to support mining service projects and civil work projects and 30% will be used for the Company's working capital.