Permodalan Nasional Madani Issues IDR 50 Billion Sukuk Mudarabah

Indonesian-based financial services provider Permodalan Nasional Madani (PNM) will conduct a limited offering of debt securities worth IDR 50 billion under its Sukuk Mudarabah III Year 2019 Series H (Sukuk), according to local media reports.

The Sukuk, which will be offered with a unit value of IDR 500 million and a transfer value of IDR 5 billion over a three-year tenure, have been registered with a floating profit sharing with a frequency of payment of three months, according to an announcement released from the Indonesian Central Securities Depository (KSEI) on the 14th of December 2020.

Initial electronic distribution of the Sukuk will commence on the 15th of December 2020, with the payment date of the first profit sharing scheduled for the 15th of March 2021,...