WSKT to Issue IDR 3 T Bond
infrastruktur

WSKT to Issue IDR 3 T Bond

Waskita Karya will issue the third Shelf Registered Bonds Phase I of 2017 worth IDR 3 trillion. The proceeds will be used to support the company’s working capital in the construction of civil works, buildings and EPC by 80 percent, and equity participation to subsidiaries by 20 percent.

Tunggul Rajagukguk, Finance Director of WSKT, said the bond is part of secondary public offering with a total value of IDR 10 trillion. This will be issued in two series: Serial A with three-year tenor offering eight to 8.75 percent coupon rate, Serial B with five-year tenor offering 8.5 to 9.25 percent coupon rate.

In the first half of 2017, the company obtained new contracts worth IDR 32.47 trillion or 54.11 percent of this year’s target amounting to IDR 60 trillion. Most of them are toll road infrastructure projects. Several projects that have been worked on by the company are Bekasi-Cawang-Kampung Melayu (Becakayu) Toll, Pejagan-Pemalang
Toll, Solo-Ngawi Toll, Ngawi-Kertosono Toll, Soekarno Hatta (Soetta) Airport Terminal 3, and Palembang LRT.

The underwriters are Bahana Sekuritas, BNI Sekuritas, Danareksa Sekuritas, DBS Vickers, Indo Premier Sekuritas, and Mandiri Sekuritas. The bookbuilding is held on September 6 to 19, 2017 while the public offering will be on October 2 to 3, 2017. It is targeted to be listed in Indonesia Stock Exchange (IDX) on October 9, 2017.
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