Mining services company PT Bukit Makmur Mandiri Utama (BUMA), a subsidiary of IDX-listed PT BUMA International Group Tbk (IDX: DOID), is planning to raise up to Rp1.4 trillion through a public bond offering, according to a prospectus published on September 2.
The offering, titled BUMA Bonds III Year 2025, will be issued in three series and offered at 100 percent of face value. The company did not disclose the coupon rates for the bonds, which will carry tenors ranging from 370 days to five years.
The proceeds will support BUMA’s operations as one of Indonesia’s major providers of general mining services. The bonds are scheduled to be listed on the Indonesia Stock Exchange (IDX) on October 8, 2025.
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According to the offering schedule, the initial bookbuilding period will run from September 3 to 17, followed by the effective date on September 26. The public offering is set for September 30 to October 2, with allotment taking place on October 3. Refunds and electronic distribution will occur on October 7, which is also the official issuance date.
The Rp1.4 trillion issuance will be divided into three tranches:
· Series A: 370-day tenor, bullet payment at maturity
· Series B: 3-year tenor, bullet payment at maturity
· Series C: 5-year tenor, bullet payment at maturity
Bondholders will receive quarterly interest payments, with the first scheduled for January 7, 2026. Final payments of both interest and principal will fall on:
· October 7, 2026 for Series A
· October 7, 2028 for Series B
· October 7, 2030 for Series C
The bonds will be issued in scripless form and registered under the Indonesian Central Securities Depository (KSEI). Ownership confirmation will be provided through written confirmations issued by securities account holders.
The issuance has received strong credit ratings from two local agencies:
· PEFINDO: A+ (Single A Plus)
· Fitch Ratings Indonesia: A+ (idn) (Single A Plus)
Joint lead underwriters for the offering include PT BCA Sekuritas, PT BNI Sekuritas, PT Indo Premier Sekuritas, and PT Mandiri Sekuritas. PT Bank CIMB Niaga Tbk has been appointed as the bond trustee.
BUMA is headquartered in South Jakarta and operates as a key contractor in Indonesia’s coal mining industry, supporting major producers across the country.
Editing by Reiner Simanjuntak
