Indofood CBP Sukses Makmur Issues Global Bonds Equivalent to IDR 14.49 Trillion
PT Indofood CBP Sukses Makmur Tbk (ICBP) issued global bonds on October 27, 2021 amounting to USD 1 billion. The amount of global bonds is equivalent to Rp. 14,496,000,000 (exchange rate of Rp. 14,496 per US dollar).
The global bonds are listed on the Singapore Exchange Securities Trading Limited (SGX-ST). The global bonds are recorded in the form and evidenced by a Global Certificate registered in the name of the nominee, and kept in a common depository Euroclear Bank SA/NV, and Clearstream Banking S.A.
The company's Global Bonds consist of:
- Global Bonds 2032, with a maturity of 10.5 years from the issuance date of USD 600 million,
- Global Bonds 2052, with maturities of 30.5 years from the issuance date of USD 400 million.
This was conveyed by the company through its disclosure of information to the regulator, the Indonesia Stock Exchange, Wednesday (27/10/2021).
The company's Global Bonds have a fixed interest rate of 3.541 percent per year for the Global Bond 2032 and 4.805 percent per year for the Global Bond 2052, which will be paid twice a year, i.e. every six months on April 27 and 27, respectively. October.
The proceeds from this global bond will be used entirely to pay for outstanding retention under the Pinehill Agreement and for general corporate purposes financing.
These Global Bonds are not guaranteed by special collateral in the form of objects or other assets of the company in any form and are not guaranteed by any other party therefore paripasu with all company debts that do not have preference rights.
Based on the ratings conducted by Moody's Investors Service and Fitch Ratings, the rating results for the company and its Global Bonds are fixed, namely Baa3 rating from Moody's Investors Service and BBB- rating from Fitch Ratings.
As of June 30, 2021, the company's equity was recorded at Rp 53,605,839,000,000. So the value of the bond issuance is equivalent to about 27 percent of the company's equity value.
As of September 30, 2021, 80.53 percent of ICBP's shares were owned by PT Indofood Sukses Makmur Tbk, and 19.47 percent of its shares were owned by the public.
There are nine Fund Managers who assisted Indofood CBP Sukses Makmur in this global bond issuance, namely Deutsche Bank AG Singapore Branch, UBS AG Singapore Branch, BNI Securities Private Limited, DBS Bank Limited, Mandiri Securities Private Limited.
In addition, Mizuho Securities (Singapore) Private Limited, Natixis Singapore Branch, Oversea-Chinese Banking Corporation Limited and SMBC Nikko Securities (Hong Kong) Limited. These managers have agreed to offer/or buy the company's global bonds.
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