Sarana Multigriya Finansial to Issue Securities Worth IDR 2 Trillion, Including IDR 100 Billion Sukuk Mudharabah

Indonesian secondary mortgage financing service provider, Sarana Multigriya Finansial (SMF) has announced plans to issue securities worth IDR 2 trillion, comprising of Sukuk amounting to IDR 100.01 billion and sustainable bonds with a value of IDR 1.9 trillion, according to local media reports.

The IDR 100.01 billion Sukuk issuance is part of the SMF’s Sustainable Sukuk Mudharabah I with a target fund of IDR 2 trillion. So far, the company has issued the first two parts of the Sukuk Mudharabah in 2019 and 2020, amounting to a value of IDR 446 billion. Proceeds of the Sukuk issuance will be used to replace equity funds used for secondary financing through Shariah business units, according to the management of SMF.

Meanwhile, the IDR 1.9 trillion Sustainable Bond...