Wijaya Karya’s IDR 2 Trillion Combined Issuance of Sukuk and Sustainable Bonds Oversubscribed 2.5 Times

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Indonesian state-owned construction company, Wijaya Karya’s (WIKA) offering of securities worth IDR 2 trillion, comprising of IDR 500 billion in Sukuk and IDR 1.5 trillion in sustainable bonds, has been oversubscribed 2.5 times, according to local media reports.

The initial offering lasted until the 1st of December 2020. According to Ade Wahyu, Finance Director of WIKA, the Sukuk and bonds offered by the company were issued in three series namely Series A with a tenure of 3 years, Series B with a 5-year tenure, and Series C with a tenure of 7 years, with profit rates of 8.6%, 9.25% and 9.85% respectively.

Wahyu noted that the oversubscription indicated that investor interest...