PEFINDO Assigns ‘idA (sy)’ Rating for Global Mediacom’s Proposed Sukuk Ijarah Worth IDR 600 Billion

Pemeringkat Efek Indonesia (PEFINDO), Indonesia’s rating agency, has assigned an ‘idA (sy)’ rating for Global Mediacom Group’s (Global Mediacom) proposed Sustainable Sukuk Ijarah II Year 2020 (Sukuk) issuance worth up to IDR 600 billion, and an ‘idA’ rating for the issuance of Sustainable Bonds II Year 2020 (Sustainable Bonds), with a maximum value of IDR 1.4 trillion, according to a statement released recently.

Proceeds of the securities of the Sukuk and Sustainable Bonds, amounting to IDR 2.0 trillion, will be used to refinance Sukuk and Sustainable Bonds set to mature at IDR 400 billion in 2020 and IDR 1.02 trillion in 2022, with the remaining funds used to finance working capital o...