Rajawali Nusantara Indonesia Pays Off Debts of Sukuk Ijarah and MTN Worth IDR 665 Billion

Rajawali Nusantara Indonesia (RNI), a state-owned sugar producer, has successfully paid off debts of its Sukuk Ijarah and Medium Term Notes (MTN) Phase I and II with a total value of IDR 665 billion, according to local media reports, citing an official statement.

RNI Finance Director, Pramusti Indrascaryo stated that the final repayment was marked by a Sukuk settlement of IDR 200 billion, which was completed on the 2nd of August 2020. According to IslamicMarkets Sukuk Monitor, the IDR 200 billion Sukuk Ijarah was issued on the 2nd of August 2017 in order to finance the company’s sugar milling activities, as well as for working capital needs and expansion purposes.

Earlier th...