Triasmitra (KETR) Issues Rp 220 Billion Bonds for Submarine Cable

JAKARTA, KOMPAS.com - PT Ketrosden Triasmitra Tbk (KETR), an issuer in telecommunications infrastructure and submarine cables, has issued bonds valued at Rp 220 billion to build the Median Ring Indonesia (Merindo) Submarine Cable Communication System (SKKL) in the central Indonesia region. The project is intended to strengthen digital connectivity in areas that serve as strategic economic and tourism centres.

The bond issuance also forms part of the development of national telecommunications infrastructure, particularly in regions that still require enhancements to digital networks and telecommunications backbones.

“The Rp 220 billion in funds represents an investment in the future of central Indonesia,” said the President Director of PT Ketrosden Triasmitra Tbk, Titus Dondi Patria, in a press statement on Monday (11/5/2026).

“We will build the SKKL Merindo, which connects strategic economic and tourism centres, bringing high-quality connectivity to areas that have long needed strengthened digital infrastructure,” he added.

The bonds issued by Triasmitra received the highest instrument rating of idAAAcg (Triple A; Corporate Guarantee) from PT Pemeringkat Efek Indonesia (Pefindo). This rating indicates a very strong ability to meet financial obligations.

Additionally, the bonds are fully guaranteed by GuarantCo, which is part of the Private Infrastructure Development Group (PIDG), an international guarantee institution focused on infrastructure projects in emerging markets.

The bonds are divided into three series. Series A offers a coupon of 6.70 per cent with a three-year tenor, Series B a coupon of 7.00 per cent with a five-year tenor, and Series C a coupon of 7.25 per cent with a 10-year tenor.

The SKKL Merindo will be Triasmitra’s next submarine cable project following the Rising 8 project, which connects Jakarta-Batam-Singapore.

Through this project, the company aims to strengthen its position as a provider of integrated telecommunications infrastructure in Indonesia.

The proceeds from the bond issuance will be allocated to two of Triasmitra’s subsidiaries, namely PT Jejaring Mitra Persada (JMP) and PT Triasmitra Multiniaga Internasional (TMI).

JMP will use the funds for seabed surveys and procurement of materials for the construction of SKKL Merindo. Meanwhile, TMI will utilise the funds for operational maintenance costs of existing operational cables.