BUMA Completes Inaugural Sukuk Issuance, the Largest A+ Sharia-Rated Corporate Sukuk Ijarah in a Single Issuance in Indonesia
20 March 2025
PT Bukit Makmur Mandiri Utama (BUMA), the principal subsidiary of PT BUMA Internasional Grup Tbk (BUMA InternaIonal Group, IDX: DOID), today announced the successful issuance of its inaugural Sukuk Ijarah I BUMA 2025, valued at Rp2 trillion. This issuance, the largest A+ sharia-rated corporate Sukuk Ijarah in a single issuance in Indonesia, was met with solid demand, evidenced by a 1.1x oversubscribed rate, demonstrating robust investor confidence and a strong appetite for sharia-compliant investment opportunities.
The Sukuk Ijarah I BUMA 2025 was issued in three series:
| Series | Nominal Value | Ijarah Fee | Maturity |
| Series A | Rp542,850,000,000 | 7.50% | 370 days |
| Series B | Rp364,950,000,000 | 8.50% | 3 years |
| Series C | Rp1,092,200,000,000 | 9.25% | 5 years |
With a competitive blended rate, the Sukuk attracted a diverse range of investors, including banks, asset managers, mutual funds, and pension funds. Notably, more than 50% of commitments were made toward the 5-year tenor, reflecting a preference for longer-term investments and confidence in BUMA’s financial stability.
Iwan Fuad Salim, Director of BUMA InternaIonal Group, stated, “We are humbled and grateful for the overwhelming support and confidence our investors have shown in BUMA. The successful issuance of Sukuk Ijarah I BUMA 2025 marks another milestone in our financial diversification journey, drawing significant interest from both new and existing investors, including holders of our previous BUMA Rupiah Bonds. This strong participation not only reaffirms the market’s recognition of BUMA’s financial instruments as highly attractive but also underscores our commitment to fostering long-term partnerships with our investors. We are pleased to see this sustained confidence in our financial strength and strategic direction.”
This issuance also serves as the newest addition to BUMA’s financial diversification, complementing Global Bonds, Conventional IDR Bonds, Conventional and Sharia Bank financing, and Leasing. Its success broadens BUMA’s financing options, enhancing its flexibility and expanding access to a more diverse range of funding sources.
The proceeds from the Sukuk will be evenly allocated to strengthen BUMA’s operations in Indonesia. Silfanny Bahar, Director of BUMA, explained, “50% will be directed toward capital expenditures, while the remaining 50% will support working capital. This allocation aligns with BUMA’s commitment to maintain operational efficiency and financial resilience as we continue to grow and explore new opportunities in the mining sector.”
The Sukuk Ijarah I BUMA 2025 issuance was arranged by PT BNI Sekuritas, PT BCA Sekuritas, and PT Sucor Sekuritas, with PT Bank Rakyat Indonesia (Persero) Tbk serving as the trustee.