Bisnis, JAKARTA—PT Summarecon Agung Tbk. (SMRA) is set to demonstrate its property pre-sales capabilities during the second half of 2023. The company, owned by Soetjipto Nagaria, is also in the process of raising funds to support its expansion endeavors.
Summarecon Agung Tbk. (SMRA) has decided to use bond instruments as a means to raise new capital from the capital market. As part of its Sustainable Public Offering (PUB) bond program with a maximum target of IDR 3 trillion, SMRA had previously issued Sustainable Bonds IV Phase I/2022 worth IDR 448.45 billion. In the ongoing PUB program, SMRA is now offering Sustainable Bonds IV Summarecon Agung Phase II/2023 to secure fresh funds of up to IDR 900 billion.
These bonds, rated idA+ by Pefindo, are being offered to investors in two series: Series A with a value of IDR 468 billion, a 3-year term, and an interest rate of 7.35% per year, and Series B worth IDR 432 billion, with a 5-year term and an 8% annual coupon rate.
The majority of the funds raised, around 85%, will be allocated for property sector business development, while the remaining 15% will be used for working capital in the company or its subsidiary firms.