PEFINDO Affirms ‘idA+(sy)’ Rating for Permodalan Nasional Madani’s IDR 100 Billion Series D Sukuk Mudharabah

Pemeringkat Efek Indonesia (PEFINDO), Indonesia’s rating agency, has affirmed the ‘idA+ (sy)’ rating for Permodalan Nasional Madani’s (PNM) 2017 Series D Sukuk Mudharabah I worth IDR 100 billion, according to an official statement released recently.

According to the IslamicMarkets Sukuk Monitor, the Series D Sukuk Mudharabah was initially issued on the 31st of January 2018 with a three-year tenure set to mature on the 31st of January 2021, with a coupon rate of 10%.

PNM is expected to pay the debt securities using cash and cash equivalents of IDR 2.7 trillion, made up of the average monthly PNM collection amounting to IDR 2 trillion, and unused credit facili...