Wijaya Karya to Issue Sukuk Along with Conventional Bonds Worth a Total of IDR 3 Trillion

Indonesia-based engineering and construction company Wijaya Karya (WIKA) is set to issue Sukuk and conventional bonds collectively worth IDR 3 trillion, as stated in by WIKA’s management in the prospectus.

The Shelf Registration Sukuk Mudarabah I Wijaya Karya Phase II Year 2021, carries a principle value of IDR 500 billion, and the funds will go towards meeting working capital projects. These infrastructure and building projects are Shariah-friendly and is part of the PUB Sukuk Mudharabah I Wijaya Karya, which has a target fund raised of IDR 1 trillion.

The MYR 2.5 trillion in proceeds obtained from the conventional bond issuance will be used entirely to pay off the loan principal. This bond forms part of the Shelf Registration Bond I Wijaya Karya with a target...