PT Mora Telematics Indonesia Offers IDR 500 Billion in Sukuk Ijarah for Investments in Infrastructure

PT Mora Telematics Indonesia (Moratelindo) has announced the planned issuance of IDR 500 billion in its Sustainable Sukuk Ijara I Phase IV 2021 (Sukuk Ijarah). According to an official prospectus from Moratelindo management released on the 16th of April 2021, the Sukuk Ijarah will be offered in two series; Series A valued at IDR 469.1 billion carries a three-year tenure with IDR 48.1 billion in returns per year, whilst Series B, which matures in five years, has a total value of IDR 30.9 billion, with IDR 3.4 billion in returns per year.

Why it Matters?

Approximately 80% of the funds raised will go towards investments in Moratelindo’s backbone network and access, including passive and active devices and infrastructure, and will be used to increa...