Indonesia’s Balitower to Launch IDR 2 Trillion Sukuk Ijarah Programme  

Indonesia-based telecommunications tower company PT Bali Towerindo Sentra Tbk (Balitower) has announced plans to launch an IDR 2 trillion (USD 130 million) Sukuk Ijarah Programme with its maiden issuance of Phase I Year 2022 Sukuk Ijarah under the Programme worth IDR 500 billion (USD 32.5 million).

Why it Matters?

After deducting the costs associated with emissions, proceeds from the offering would be used for working capital, which covers daily operational costs and marketing and sales costs associated with customer acquisition, as well as capital expenditure needs which aim to increase capacity, expand networks, and improve service quality.

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