16 February 2021

Ciputra Development Issues S$125 Million MTN

PT Ciputra Development Tbk (“the Company”) completed the issuance of S$125 million 6% Medium Term Notes (MTN) due in 2026 in Singapore Exchange (SGX). The issuance was carried out in two tranches, S$100 million on 2 February 2021 and S$25 million on 11 February 2021. Fitch Ratings assigned the MTN a rating of ‘B+’ with a Recovery Rating of ‘RR4’. Moreover, Fitch Ratings assigned the Company’s Long-Term Issuer Default Rating (IDR) at ‘B+’ with a Stable Outlook. DBS Bank Ltd. and Mandiri Securities Pte. Ltd. are the joint bookrunners of the MTN.

The MTN was issued under multicurrency medium term notes programme signed by the Company and DBS Bank. Under this programme, the Company may issue up to S$400 million MTN.

The proceeds of the MTN will be used to repay or refinance borrowings, including the existing S$150 million MTN that will mature on 23 September 2021, as well as for working capital and general corporate purposes.

For more information, please visit the Company’s information disclosure on the following links:

Report on Material Information or Facts – MTN 2021 Issuance

Report on Material Information or Facts – MTN 2021 Issuance Tranche 2

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