RAKIA Sukuk (continued...) - Islamic Finance News
RAKIA Sukuk (continued...) - Islamic Finance News
RAKIA Sukuk (continued...) - Islamic Finance News
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TERMSHEET<br />
FACILITY<br />
KRAKATAU STEEL<br />
Syndicated Murabahah facility<br />
FACILITY SIZE<br />
US$50 million<br />
PURCHASER<br />
PT Krakatau Steel (Persero)<br />
SELLER<br />
Hongkong and Shanghai Banking Corporation (HSBC) acting as investment agent of fi nanciers<br />
FINAL DISTRIBUTION<br />
52% Middle East<br />
48% Asia<br />
PRINCIPAL ACTIVITY OF<br />
PURCHASER<br />
Krakatau Steel is an Indonesian state-owned enterprise which is the largest integrated steel<br />
manufacturer in Indonesia and Southeast Asia.<br />
It plays a signifi cant role in the development of the nation as its products are used in the<br />
manufacturing, infrastructure and construction sectors of the economy.<br />
PURPOSE<br />
To fi nance the purchase of raw materials<br />
EFFECTIVE DATE 4 th July 2007<br />
PURCHASE PRICE<br />
The purchase price for the commodity payable by the purchaser to suppliers<br />
PROFIT MARGIN<br />
The Murabahah profi t margin is determined based on a spread over 6-months LIBOR as reference rate<br />
TENOR<br />
180 days<br />
PAYMENT<br />
The payment of each purchase of commodity by the purchaser from the seller consists of the purchase<br />
price for each disbursement and the agreed profi t margin<br />
LEGAL COUNSEL<br />
Denton Wilde Sapte, Dubai offi ce (English law)<br />
Hanafi ah Ponggawa & Partners (Indonesian law)<br />
MANDATED LEAD<br />
ARRANGER<br />
HSBC Amanah<br />
SHARIAH ADVISER<br />
HSBC Amanah<br />
BOOKRUNNER<br />
HSBC Amanah<br />
RATINGS<br />
N/A<br />
www.<strong>Islamic</strong><strong>Finance</strong><strong>News</strong>.com<br />
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