Indonesia’s Indah Kiat Issues IDR 675.6 Billion Sustainable Sukuk Mudharabah II Phase IV of 2023
January 16, 2023 | Updated at January 18, 2023
Indonesia-based PT Indah Kiat Pulp & Paper Tbk (INKP), a subsidiary of Sinar Mas Group, has issued Sustainable Sukuk Mudharabah II phase IV of 2023 worth IDR 675.6 billion (USD 44.7 million).
Why it Matters?
Proceeds from the issuance will be utilised for daily operations, such as buying raw materials, production supplies, energy and fuel, finished goods, and indirect expenses. The Sukuk is divided into three series: Series A Sukuk has a face value of IDR 106.88 billion (USD 7.1 million) with a maturity of 370 days; Series B is offered for IDR 501.58 billion (USD 33.2 million) with a three-year term; and Series C is offered for IDR 67.04 billion (USD 4.4 million) with a five-year maturity.