BRIDS Trusted to Support BSI in Issuing First Sustainability Sukuk Worth IDR 3 Trillion
Jakarta, 30 May 2024 – BRI Danareksa Sekuritas (“BRIDS”) was officially appointed by PT Bank Syariah Indonesia Tbk (BSI or IDX: BRIS) as one of the Managing Underwriters to support the issuance of Environment, Social, Governance (ESG) based sukuk instruments The first in Indonesia in the form of Sustainable Sustainability Based Mudharabah Sukuk or Sustainability Sukuk with a total Sustainable Public Offering worth IDR 10 trillion.
In the issuance of Stage I Sustainability Sukuk, BSI targets the total emissions to be collected as much as IDR 3 trillion, where the Sustainability Sukuk is offered in three series to the public, namely Series A for a tenor of 370 Calendar Days with an indicated coupon of 6.40% - 7, 10%, Series B with a tenor of 2 years with an indicated coupon of 6.45% - 7.15%, and Series C with a tenor of 3 years with an indicated coupon of 6.50% - 7.20%.
The funds obtained from the issuance of the Sustainability Sukuk will later be used by BSI to distribute new or existing financing, both directly and indirectly, for activities included in the categories of Environmentally Friendly Business Activities (KUBL) and Socially Minded Business Activities (KUBS). ) as regulated in POJK No.18 of 2023.
BRIDS Investment Banking Capital Market Director Kevin Praharyawan said that the issuance of the Sustainability Sukuk was carried out by BSI based on the rapid development of the thematic debt securities market in Indonesia in recent years, with the hope of one of them being to enrich financial instruments in the Indonesian capital market.
"Through the issuance of this Sustainability Sukuk, we assess that BSI offers an attractive sharia investment option with relatively low risk in accordance with the idAAA rating from PEFINDO, quite attractive returns for short tenors, as well as the opportunity to participate in Sustainability Financing. "Therefore, we are confident that this Sustainability Sukuk can be well absorbed by the market," explained Kevin.
For your information, the initial offering period for the Sustainability Sukuk begins on May 15 2024 and will end on May 30 2024. The public offering period is planned to be held on June 11 - 12 2024, with a target of electronic distribution at KSEI on June 14 2024.
In his written statement, BRIDS President Director Laksono Widodo revealed that the good performance of BRIDS from the Underwriter side in the first quarter of 2024 certainly played an important role in increasing issuers' trust in BRIDS as one of the Underwriters for this historic publication.
Quoting data from the Indonesian Stock Exchange (BEI) as of March 31 2024, BRIDS debt securities underwriting managed to record good performance by occupying the Top 3 position in the Bloomberg League Table for Debt Securities Underwriting.
"Over the last five years, BRIDS' debt securities underwriting business has consistently recorded good performance and is believed to be able to support various debt securities issuances for companies in Indonesia. "This certainly strengthens BRIDS' position as one of the best securities companies in Indonesia," stressed Laksono.