SMI Launches Retail Infrastructure Bond, Targets Rp300 Billion in Funding

PT Sarana Multi Infrastruktur (Persero), or PT SMI, has launched the Obligasi Ritel Infrastruktur PT SMI (ORIS) with an indicative target of raising Rp300 billion in funds.

The instrument forms part of SMI’s Continuous Public Offering of Sustainability Bonds I, Stage II, 2026. According to SMI Chief Executive Officer Reynaldi Hermansjah, the ORIS issuance aims to provide the public with direct participation opportunities in financing sustainable infrastructure development.

“This represents an effort by PT Sarana Multi Infrastruktur to provide the widest possible opportunity for the public to participate in bond issuance,” Reynaldi said.

ORIS offers two tenor options: one year with a coupon of 5.60 per cent per annum and three years with a coupon of 6.05 per cent per annum. The minimum subscription value is set at Rp5 million, with increments of Rp1 million for additional orders.

All funds raised through ORIS will be allocated to finance projects with positive environmental and social impact, in accordance with SMI’s Sustainable Funding Framework. These projects span green sectors such as renewable energy and environmentally friendly transportation, as well as social sectors including healthcare facilities, education, and clean water provision.

SMI’s Risk Management Director Pradana Murti explained that ORIS issuance maintains principles of prudence and strong corporate governance. “As a Development Finance Institution (DFI), every instrument we issue is designed with a comprehensive risk management framework,” he stated.

Funds raised through ORIS will be allocated to projects that have undergone rigorous risk assessment, covering financial feasibility, social and environmental impact, and long-term sustainability aspects.

Through the ORIS issuance, SMI hopes to expand public participation in sustainable development financing whilst deepening the domestic financial market and strengthening long-term funding structures that contribute to national economic growth.

Prospective investors can follow several stages to invest in ORIS. First, registration involves submitting investment interest through the designated fiscal agent. Second, subscription can occur after registration and verification are completed, and may only be done during the offering period as set by the respective fiscal agents. Third, payment requires investors to provide funds matching their subscription amount after order verification. Fourth, confirmation and settlement sees investors receiving transaction confirmation and ORIS being recorded in their securities account on the settlement date according to the established schedule.