Indah Kiat Issues IDR 4 Trillion in Securities; Including IDR 1 Trillion Sukuk Mudharabah

Indah Kiat Pulp & Paper (Indah Kiat), which is an Indonesia-based manufacturer of paper, pulp and packaging paper, has conducted a sustainable public offering worth IDR 4 trillion in securities, made up of Shelf Registration Bonds II Phase I 2021 worth IDR 3 trillion and Shelf Registration Sukuk Mudharabah I Phase I 2021 worth IDR 1 trillion, according to an Indonesia Central Securities Depository announcement dated 24th of September 2021. The Sukuk issuance is a continuation of the company’s public offering of Sukuk Mudharabah with a target fund of IDR 3 trillion.

Why it Matters?

Through the issuance of these securities, Indah Kiat will pay off its debts and finance working capital. Around 60% of the funds obtained from the Sukuk will be u...