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The Credit Guarantee and Investment Facility, a trust fund of the Asian Development Bank (“CGIF”) is pleased to announce its support for the guaranteed IDR499.9 billion bond (“Bond”) issued by PT Adhi Commuter Properti Tbk (“ADCP” or the “Company”) on 8 December 2023. The oversubscribed Bond marks CGIF’s first time support for an Indonesian property developer and continued support on the development of Indonesia’s bond markets.
The publicly offered Bond, rated idAAA(cg) by PEFINDO, was successfully issued at a coupon rate of 7.80% p.a. for the 3-year tranche and 8.25% p.a. for the 5-year tranche and is listed on the Indonesia Stock Exchange. The proceeds of the Bond will be used for advancing the development of ADCP’s Transit Oriented Development-based (TOD) properties.