Wijaya Karya to Issue IDR 5 Trillion Sukuk and Sustainable Bonds to Pay Komodo Bonds

Indonesian state-owned construction company, Wijaya Karya (WIKA), has announced plans to issue a public offering of Sukuk and sustainable bonds amounting to IDR 5 trillion, according to local media reports.

The offering of Sukuk and sustainable bonds will commence in stages from the fourth quarter of 2020, and is part of WIKA’s strategy to strengthen its cash structure to repay an existing Komodo (global IDR) bond totalling IDR 5.4 trillion, that is set to mature in January 2021. Further details of the amount of the issuance and the underwriters of the first phase of the securities will be announced later, local media reported.

According to President Director of WIKA, Agung B...