PT Pembangunan Jaya Ancol Tbk (PJAA) has prepared funds amounting to Rp14.25 billion to pay the first interest on the Jaya Ancol Phase II Sustainable Bonds II.

Director of Pembangunan Jaya Ancol, Hari Sundjojo, said that the company would make interest payments according to the date stated in the letter from PT Kustodian Sentral Efek Indonesia (KSEI).

"We will submit a copy of the proof of transfer of the fund transfer after payment of the bond interest to KSEI," Hari said in the announcement of the information disclosure on the Indonesia Stock Exchange, Friday (16/4).

The company issued the Jaya Ancol Phase II Sustainable Bonds II bonds with a value of Rp731 billion in January 2021.

The issuance of these bonds is mostly or around 55% used by the company for debt repayment/refinancing of several bonds that will mature this year. Series B of the Sustainable Bonds I Jaya Ancol phase I 2016 and Series B Phase II in 2018, amounting to Rp50 billion and Rp350 billion, will be due on September 28 and May 18, 2021.

The company will use as much as 29% of the proceeds from the bonds' issuance to pay PT Bank DKI for the repayment of credit facilities. It will use as much as 16% or equivalent to Rp120 billion for the subsidiary's working capital for the development of the recreation area of ​​PT Taman Impian Jaya Ancol. 

Regarding performance, as of the third quarter of 2020, this tourism company recorded Rp305.5 billion or decreased 68.68% compared to the same period in 2019 with revenues reaching Rp975.74 billion. This decrease in income is none other than the impact of implementing social restriction policies in controlling the spread of Covid-19.

This policy also affected the company's bottom line, which suffered losses of up to Rp252.12 billion. Compare that in the third quarter of 2019, where the company posted a profit of Rp153.96 billion.