Mayora Indah Issue Bonds IDR 500 Billion. One of the consumer product business groups in Indonesia, which found on February 17, 1977. Mayora Indah Tbk (MYOR IJ) offers bonds with an issuance target of up to IDR 500 billion. Mayora Indah held a Sustainable Public Offering (PUB) of Mayora Indah II Phase I Year 2020 Sustainable Bonds with a total issuance of up to IDR 500 billion.
Moreover, these emissions are part of PUB II with a total value of IDR 2 trillion. Base on the company’s prospectus, Mayora will issue 4 bond series. Series A has a tenor of 370 days, while Series B will mature in 4 years. Meanwhile, Series C has a 5 year tenor. Last, Series D will mature within 7 years from the issuance date.
Furthermore, the company has not yet determine the coupons for each of the bond series. All funds obtain from the issuance of bonds will be use to provide loans to MYOR’s subsidiary. Namely Torabika Eka Semesta for working capital financing. The funds will be use for operational activities of the subsidiary.
Such as purchasing raw materials, packaging materials, and paying for other operational costs that may arise. The minimum purchase of these bonds has been set at IDR 5 million. Meanwhile, interest payments are made every three months. According to the payment date of each bond interest. The initial bond offering period will take place on 14-25 August 2020.
As well as, Mayora Indah Credit Rating. The public offering is schedule for 2–4 September 2020. Mayora Indah appoint Indo Premier Sekuritas, Mandiri Sekuritas, and RHB Sekuritas as the underwriters. While, Bank Permata Tbk (BNLI IJ) as trustees mandate. This sustainable bond receive an AA rating from the Indonesian Securities Rating (Pefindo).
These bonds also have no special guarantees. Meanwhile, bond buybacks or buybacks can be made 1 year after the allotment date. The company can also buy back part or all of the bonds. Before the date of repayment of the principal.