PT Indosat Tbk (ISAT) has decided not to issue the remaining proceeds from the Third Sustainable Public Offering Program (Bond Program III), amounting to Rp4.619 trillion.

"This decision takes into account the company's liquidity adequacy and the BP III period," said Corporate Secretary of Indosat, Kharisman Hudha, in a statement to the Stock Exchange, on Wednesday (24/2).

He added that BP III consisted of bonds amounting to Rp2.913 trillion and sukuk ijarah Rp1.707 trillion. Meanwhile, the target plan for obtaining funds from PUB III is to reach Rp10 trillion, divided into Rp7 trillion bonds and Rp3 trillion sukuk ijarah.

Phase I BP III offered bonds and sukuk ijarah, amounting to Rp 1.5 trillion and Rp500 billion, respectively, in March 2019. Phase II in July 2019 was around Rp2.587 trillion and Rp794 billion, respectively.

Thus, the realization of the issuance of bonds and sukuk ijarah in the BP III amounted to Rp4.087 trillion and Rp1.294 trillion, respectively.