ABNR Advises Indonesian State Rail Operator KAI on Conventional & Islamic Bond Issuances
ABNR advised Indonesian state rail operator PT Kereta Api Indonesia (KAI) on their recent issuances of conventional and Islamic bonds under a shelf registration. The newly issued bonds consist of:
- IDR 700 billion of conventional bonds (Obligasi Berkelanjutan I Kereta Api Indonesia Tahap II Tahun 2024); and
- IDR 300 billion of Islamic bonds (Sukuk Ijarah Berkelanjutan I Kereta Api Indonesia Tahap II Tahun 2024)
The listing of the bonds on the Indonesia Stock Exchange commenced on 12 August 2024.
This latest ABNR mandate from KAI comes on the back of our previous assistance to the company for the issuance of IDR 2 trillion of conventional and Islamic bonds in 2022.
The proceeds from the 2024 bonds are to be allocated as follows:
Conventional Bonds
IDR 500 billion as down payment for 54 locomotives to enhance freight transportation in Southern Sumatra, and the remaining proceeds for the procurement of infrastructure and other facilities for the development of freight transportation in Southern Sumatra.
Islamic Bonds
The entire proceeds to be used for the procurement of infrastructure and other facilities for the development of freight transportation in Southern Sumatra.
The ABNR team advising on the transactions was headed by Mr. Ayik C. Gunadi and included of counsel Ms. Rita Taufik, and senior associates Ms. Kartika Budianti, Mr. Novario Hutagalung and Mr. Abdurachman Sidik.
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NEWS DETAIL
11 Sep 2024
ABNR Advises Indonesian State Rail Operator KAI on Conventional & Islamic Bond Issuances
ABNR advised Indonesian state rail operator PT Kereta Api Indonesia (KAI) on their recent issuances of conventional and Islamic bonds under a shelf registration. The newly issued bonds consist of:
- IDR 700 billion of conventional bonds (Obligasi Berkelanjutan I Kereta Api Indonesia Tahap II Tahun 2024); and
- IDR 300 billion of Islamic bonds (Sukuk Ijarah Berkelanjutan I Kereta Api Indonesia Tahap II Tahun 2024)
The listing of the bonds on the Indonesia Stock Exchange commenced on 12 August 2024.
This latest ABNR mandate from KAI comes on the back of our previous assistance to the company for the issuance of IDR 2 trillion of conventional and Islamic bonds in 2022.
The proceeds from the 2024 bonds are to be allocated as follows:
Conventional Bonds
IDR 500 billion as down payment for 54 locomotives to enhance freight transportation in Southern Sumatra, and the remaining proceeds for the procurement of infrastructure and other facilities for the development of freight transportation in Southern Sumatra.
Islamic Bonds
The entire proceeds to be used for the procurement of infrastructure and other facilities for the development of freight transportation in Southern Sumatra.
The ABNR team advising on the transactions was headed by Mr. Ayik C. Gunadi and included of counsel Ms. Rita Taufik, and senior associates Ms. Kartika Budianti, Mr. Novario Hutagalung and Mr. Abdurachman Sidik.