DILD to Issue Rp 400 Billion Worth of Sukuk

By Editorial Team 05/09/2019
Summary

PT Intiland Development Tbk (DILD) plans to issue Rp 400 billion worth of sharia-based debt securities or sukuk. The securities with three-year tenor will be out in December 2019. The company will use the money for refinancing.

DILD Director Archied Noto Pradono said that some interested parties had revealed their intention to buy the sukuk. By issuing sukuk to refinance several short-term debts, Intiland Development can lower the interest expenses. The debt securities that will be refinanced has 15 percent interest rate, while the new sukuk will have 10.5 percent-11.5 percent.

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