Indonesia’s Intiland Development to Issue Sustainable Sukuk Ijarah I Phase III Worth IDR 250 Billion 

PT Intiland Development Tbk (Intiland Development), Indonesia-based property developer, has announced plans for the issuance of an IDR 250 billion (USD 16.16 million) Sustainable Sukuk ijarah I Phase III in 2022, offered in two Series, namely Series A worth IDR 125 billion (USD 8.08 million) with a two-year term and Series B valued at IDR 125 billion (USD 8.08 million) with a three-year term.

Why it Matters?

The proceeds from the offering will be utilised to increase the capital of Intiland Development and pay off (refinance) company debt, while the beneficial rights to a 9,944 square meter (m2) land located in the commercial area of Graha Famili, Surabaya City, East Java Province will act as the underlying asset for the issuance. These rights are in t...