PT Integra Indocabinet Tbk (WOOD) plans to conduct a sustainable public offering I in 2021 with a target to raise Rp700 billion.

The brief prospectus published on Thursday (18/3) showed the sustainable public offering, consists of bonds and sustainable sukuk I phase I in 2021, amounting to Rp450 billion and Rp150 billion, respectively.

The bonds consist of two series, namely A series with a tenor of 370 days and B series of 3 years.

The company plans to use the bond issuance proceeds to refinance around 80 percent and the rest for the company's working capital. Meanwhile, the use of sukuk mudharabah funds is entirely for working capital.

The company has obtained ratings for the bond sale plan from Pefindo, 'A-' and 'A- (sy). The underwriters for the issuance of bonds and sukuk are Trimegah Sekuritas Indonesia and BRI Danareksa Sekuritas, with the trustee of BRI (Persero) Tbk.

Meanwhile, the implementation schedule is the initial offering period 19-25 March 2021. The effective date is April 2021, the public offering period is April  7-8, the allotment is on April 9, refunds of orders and distribution of bonds electronically on April 12 and 13, and listing on the IDX on April 14, 2021.