PT Moya Indonesia, the Salim Group’s water utility holding company, has raised IDR2 trillion through the issuance of conventional bonds and wakalah sukuk to strengthen its subsidiaries and refinance drinking water infrastructure projects in Indonesia. The fundraising comprises IDR1 trillion in Bond I 2026 and IDR1 trillion in Agency-Based Islamic Bonds (wakalah sukuk), with both instruments issued in three series. The securities were issued on July 14, 2026, and listed on the Indonesia Stock Exchange (IDX) on July 15, 2026.
The bond issuance includes IDR424.8 billion that was fully underwritten with a maximum annual coupon of 9 per cent, while the remaining IDR575.2 billion was offered on a best-effort basis. The wakalah sukuk consists of IDR165.2 billion that was fully underwritten, offering returns of up to 9 per cent per annum, with the remaining IDR843.8 billion marketed on a best-effort basis. Proceeds from the bond issue will be injected as additional capital into subsidiaries PT Moya Tangerang (MT) and PT Aetra Air Tangerang (AAT). MT will receive IDR202.40 billion to refinance financing previously obtained from PT Bank Central Asia (BCA) for the construction of a drinking water supply system (SPAM), while AAT will receive IDR217.03 billion to repay investment loan obligations. The entire proceeds from the wakalah sukuk will also be allocated to MT to refinance the SPAM project.
The fundraising supports Moya Indonesia’s strategy to strengthen financing for water infrastructure development and improve the financial position of its operating subsidiaries. By refinancing existing debt and injecting additional equity into water supply projects, the company aims to support the continued development of drinking water infrastructure, particularly in Tangerang, while enhancing the long-term sustainability of its water utility operations.