Jakarta - PT Duta Anggada Realty Tbk (DART) plans to issue sustainable bonds III phase I 2022 worth Rp300 billion.

Based on the prospectus released on Wednesday (6/22), the issuance of these bonds is part of the sustainable bonds III  program with a target of raising funds of Rp400 billion.

In the first phase, bonds are offered with a tenor of 3 years, while the bond interest coupon has not yet been determined.

The company will use the proceeds from this bond issuance of around Rp250 billion to pay debts to PT Bank MNC Internasional Tbk (BABP) and the rest for working capital.

To issue bonds, the company appointed PT MNC Sekuritas and PT Shinhan Sekuritas Indonesia as the underwriters and PT BPD Jawa Barat and Banten Tbk as trustees.

The estimated schedule for the first phase of bond issuance is the initial offering period from June 22-27, 2022, estimated effective July 7, 2022, public offering period July 11-13, 2022, allotment