TOBA issues bonds worth Rp175 billion to expand renewable energy business

Jakarta — PT TBS Energi Utama Tbk has registered the issue of its latest bonds, the Sustainable Bond I TBS Energi Utama Phase III 2026, on the Indonesia Stock Exchange (IDX) on 18 May 2026, with a total nominal value of Rp175 billion, according to a notice on the exchange’s website. These seven-year tenor bonds, traded under the code TOBA01CN3, carry a fixed annual coupon of 9% and mature on 13 May 2033. The issue has been rated idA (Single A) by PT Pemeringkat Efek Indonesia (PEFINDO), while PT Bank Mega Tbk acts as the trustee. According to the IDX notice, the bonds are not secured by specific collateral, but are secured by the entire assets of the company in accordance with the provisions of the Indonesian Civil Code. IDX notes that with this listing, the total number of bond and sukuk issuances registered on the exchange in 2025 reached 60 issuances from 39 issuers, with a nominal value of Rp66.64 trillion. The total number of outstanding and listed bond and sukuk issuances on the exchange currently stands at 695 issuances with a nominal value of Rp567.81 trillion and US$148.82 million. PT TBS Energi Utama Tbk, previously known as Toba Bara Sejahtra, has diversified from coal mining into the renewable energy sector, focusing on geothermal energy, solar power, electric vehicle infrastructure, battery business, and integrated waste management as part of its transition strategy. The company has also invested in electric motorcycle ventures and battery-swapping through strategic partnerships, positioning itself as a new player in Indonesia’s clean energy and sustainable mobility sectors. Banner photo: An electric car is parked at a solar-powered charging station. (Kindel Media/Pexels.com)