JAKARTA (Yosefardi) – Property developer PT Summarecon Agung Tbk (SMRA) upsizes its bonds issue to Rp1.1 trillion from initial plan of Rp700 billion.
The bookbuilding has closed last week with incoming bid reaching Rp1.99 trillion. The bonds (Rp800 billion) has tenor of 5 years and offers coupon of 11.5%.
SMRA is also offering syariah bonds (sukuk) worth Rp300 billion with tenor of 5 years. The company had issued bonds worth Rp600 billion last year.
SMRA booked net profit of Rp539.247 billion in first half of 2014, declined 11.3% from Rp608.98 billion in the same period of last year eventhough net sales increased to Rp1.97 trillion from previous Rp1.92 trillion.
Its assets totaled Rp14.17 trillion while liability amounted Rp9.07 trillion. The company has cash and cash equivalent of Rp2.33 trillion.