Jasa Marga launched the first Infrastructure Fund (Dinfra) in Indonesia for up to IDR 1.5 trillion. The size is capped at IDR 1.5 trillion.
PT Jasa Marga (Persero) Tbk created another innovative funding mechanism by becoming the first State-Owned Enterprise (BUMN) to issue Infrastructure Investment Funds (DINFRA).
DINFRA is a capital market product in the form of a Collective Investment Contract (KIK), according to Financial Services Authority Regulation (POJK) No. 52/POJK.04/2017, which was issued on July 19, 2017. It raises funds from investors in order to invest in infrastructure assets that benefit government programs and the community, such as the toll road project.
DINFRA, which was officially launched on Thursday (11/10) in Bali as part of the International Monetary Fund-World Bank Group Annual Meetings 2018 (IMF-WBG AM 2018), provides it with greater flexibility in seeking funds by combining equity and debt in a single transaction, allowing it to obtain accelerated funding from both asset and debt recycling.
"This represents the next level of innovation in the Company's funding strategy," Desi explained. "Previously, Jasa Marga only issued either stock or debt; now, Jasa Marga combines the two on a single platform." According to Desi, Jasa Marga may issue an open or limited offering to DINFRA in order to broaden the pool of potential investors.
PT Jasamarga Pandaan Tol, which operates the 13.6-kilometer Gempol-Pandaan Toll Road, issued the company's first DINFRA. The issuance of DINFRA is intended to raise funds up to Rp 1.5 trillion to assist Jasa Marga Toll Road projects in strengthening their capital structure.
"It is intended that this funding plan will become an alternative funding at the Subsidiary level so that Jasa Marga can continue to maintain its performance in the midst of massive toll road construction to improve national connectivity," Desi explained.
Not to mention the Financial Services Authority (OJK), the Ministry of SOEs, the Ministry of Public Works and Public Housing (PUPR), the Ministry of Finance, and the Indonesia Stock Exchange (IDX).
- Detik Finance : Rini antar Jasa Marga cari dana di pasar modal lewat Dinfra
- Bisnis Indonesia : Jasa Marga (JSMR) luncurkan dinfra Rp. 423,5 miliar
- Kompas : Bidik Rp. 1 triliun, Jasa Marga lansir KIK Dinfra