PT PP Properti tbk (PPRO), a listed property subsidiary of PT PP (Persero) Tbk (PTPP), is recorded to have been oversubscribed up to 4 times over the offer two series of bonds issued this year worth Rp 600 billion. The company director noted that incoming bids from bond investors reached Rp 2.3 trillion, with the bid reaching Rp 700 billion for the three-year bonds, while the five-year bond totaled Rp 1.6 trillion.
“Although oversubscribed, we will not raise the target funds of bond issuance this time,” said Taufik Hidayat, President Director of PP Properti.
The company also got a coupon rate of one digit for the two series of bonds. The company set a coupon of 9.5% for the three-year bonds and 9.9% for the five-year tenor.
According to the company director, the oversubscription shows investor confidence in the company. Moreover, this is also supported by excellent performance and the company’s strong condition. (*)
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