Launch Partners

Monday, April 15, 2024

Launch Partners

Kereta Api Indonesia plans sustainable Sukuk

INDONESIA: State-owned railway company Kereta Api Indonesia (KAI) is planning to raise up to IDR3 trillion (US$199.29 million) through sustainable Sukuk and bonds. According to an official announcement, the initial phase will see KAI offering IDR500 billion (US$33.22 million) Sukuk Ijarah and IDR1.5 trillion (US$99.65 million)-worth of bonds. About 78% of the Sukuk proceeds will be used to develop railway transportation in the southern part of Sumatra while the rest will be used to procure Adi Soemarmo International Airport railway facilties. BRI Danareksa Sekuritas, CIMB Niaga Sekuritas and Mandiri Sekuritas have been appointed as underwriters for the transactions. 

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