Global Mediacom to Issue IDR 300 Billion in Sukuk Ijarah to Refinance Loan Facility 

Indonesia-based media company Global Mediacom will offer Sustainable Sukuk Ijarah II Phase II 2021 amounting to IDR 300 billion, as part of its Sustainable Sukuk Ijarah II, which has a target fund of IDR 600 billion, according to local media reports. In addition, Global Mediacom will be offering Sustainable Bonds II Phase II 2021 worth IDR 700 billion as part of the issuance.

Why it Matters?

Around 99.32% of the funds obtained from the public offering of Sukuk after reducing issuance costs will be used to refinance the IDR loan facility owned by Global Mediacom, which is the Sustainable Sukuk Ijarah II Phase I 2020 Series A, set to mature on the 21st of September 2021 with a value amounting to IDR 297.97 billion. The remaining 0.68% or a maximum of ID...