PT Adhi Commuter Properti (ADCP), a subsidiary of PT Adhi Karya (Persero) Tbk, offers interest in the range of 9.5 to 11% on its bond I public offering worth Rp500 billion.

ADCP's Director of Finance, HR and Risk, Mochamad Yusuf, said the bond coupons consist of Series A with a tenor of 367 days with a coupon rate of 9.5-10.5% and Series B with a maturity of 3 years with a coupon of 10.5-11%.

"The proceeds from the public offering of bonds I Adhi Commuter Properti will be used for spending to increase land bank and funding a number of projects," he said in Jakarta on Wednesday (15/4).

The bonds issuance received idBBB (triple B) rating from PT Pemeringkat Efek Indonesia (Pefindo).

The company appointed PT Sucor Sekuritas as the underwriter for the issuance of bonds.

The implementation schedule includes the issuance of a brief prospectus publication permission from the OJK on April 14, 2021, book building April 15-26, the effective statement from the OJK on May 7, 2021, public offering on May 11 and 17, May 18 allotment, bond distribution on May 20, and listing in IDX on May 21, 2021.