Permodalan Nasional Madani to Raise IDR 8.5 Trillion Through a Mix of Conventional and Islamic Bonds

Permodalan Nasional Madani - Persero (PNM) has announced plans to raise funding via a mix of conventional bonds and Sukuk. The target is to raise IDR 8.5 trillion by end-2021, with the funds going towards customer financing and PNM’s business development.

Why it Matters?

Speaking at a virtual performance discussion on the 20th of April 2021, Sunar Basuki, Executive Vice President of Finance and Operations, noted that the company has raised financing in 2021 through conventional bonds and Sukuk in order to finance PNM's large business growth. The success of this funding is evident from PNM’s customer base, which stood at 8.98 million at the end of the first quarter of 2021, reflecting a 38.1% increase on an annual basis. PNM targets to grow...