Jakarta - PT Pyridam Farma Tbk (PYFA) plans to conduct a public offering I of sustainable bonds with a target of raising funds to reach Rp1.2 trillion.

The company's prospectus, published on Monday (14/2), showed that the PYFA would issue the first phase of bonds with a principal amount of Rp400 billion, in which the bonds are offered only in one series with a tenor of 5 years.

The company will use 90% of the proceeds from this bond for business development and the rest for the company's working capital.

Currently, the company is in the exploration stage related to the target company. The company's consideration in making acquisitions in other business fields is to strengthen the business segment to provide added value for the company.

The company has received a rating from PT Kredit Rating Indonesia to issue bonds, namely 'BBB+'.

The company has entrusted the underwriters for the bond issuance to Aldiracita Sekur