Moratelindo Issues IDR 389.515 Billion Worth of Sukuk Ijarah

Indonesian telecommunication services company Mora Telematika Indonesia (Moratelindo) has issued Sukuk Ijarah worth IDR 389.515 billion for refinancing and business expansion purposes.

The issuance, which comes under Moratelindo’s Sustainable Sukuk Ijarah I Phase III of 2020, consisted of two series; Series A valued at IDR 333.365 billion and Series B with a total value of IDR 56.150 billion, according to a statement issued on the 6th of October 2020. The issuance is part of the company’s IDR 3 trillion Sustainable Sukuk Ijarah I.

According to Moratelindo’s management, 75% of the proceeds raised will be used for refinancing, while the remaining 25% will be used fo...