London Stock Exchange welcomes Pt Wijaya Karya (Persero) Tbk (Wika) to celebrate its inaugural Komodo Bond
London Stock Exchange today welcomes PT Wijaya Karya (Persero) Tbk (WIKA), to celebrate the successful issuance of its first Komodo on London Stock Exchange’s International Securities Market (ISM).
WIKA successfully issued a three year dated Komodo bond and raised IDR 5.4 trillion Indonesian offshore rupiah (USD 405 million equivalents) with a coupon of 7.7 percent. This is the largest Komodo bond to date by an Indonesian state-owned entity and the issuance was oversubscribed by more than two times. The proceeds of the bond will help to finance several WIKA’s construction projects which include some of the projects that are designated as strategic projects by the Government of Indonesia
WIKA one of the largest listed state-owned engineering, procurement and construction (“EPC”) companies in Indonesia with a diversified portfolio of construction projects. With 50 years’ experience in the construction industry, WIKA have built a successful track record in the EPC sector and have transformed into an integrated and synergized infrastructure group. WIKA have also successfully undertaken a number of public projects which are strategically important to the Government of Indonesia’s infrastructure plans
“Wijaya Karya is very proud to become one of the global-local currency debt market players. Wijaya Karya's Komodo bond that was more than two times oversubscribed had shown strong global investor support and trust towards Wijaya Karya as well as the future of Indonesia's infrastructure.” said Bintang Perbowo, President Director of WIKA.