Penelitian skripsi ini secara keseluruhan membahas instrumen utang berbentuk Medium Term Notes pada Badan Usaha Milik Negara Perum Perumnas. Sebelumnya, Medium Term Notes tidak memiliki pengaturan khusus dalam mekanisme penerbitannya. Sejak tahun 2019, Medium Term Notes diatur khusus dengan diterbitkannya POJK 30/POJK.04/2019 tentang Penerbitan Efek Bersifat Utang dan/atau Sukuk yang Dilakukan Tanpa Melalui Penawaran Umum. Secara umum, Medium Term Notes lazimnya diterbitkan oleh Perseroan Terbatas sebagai salah satu instrumen utang. Dengan masifnya penerbitan Medium Term Notes, Badan Usaha Milik Negara juga mulai menerbitkan Medium Term Notes sebagai salah satu sumber pendanaan eksternal. Skripsi ini juga meneliti mengenai penerbitan Medium Term Notes pada BUMN berbentuk Perusahaan Umum (Perum). Sebagaimana diketahui, seluruh modal Perum dimiliki oleh Negara. Oleh karena itu, sangat penting untuk dibahas mengenai sejauh mana peran Negara dalam membantu mencegah maupun mengatasi risiko penundaan kewajiban pembayaran Medium Term Notes oleh Perum Perumnas. Pembahasan tersebut dimulai dengan menjelaskan dasar hukum penerbitan Medium Term Notes oleh Perum Perumnas, mekanisme penerbitan Medium Term Notes Perum Perumnas, riwayat penerbitan Medium Term Notes, para pihak dalam penerbitan Medium Term Notes, peristiwa penundaan kewajiban pembayaran Medium Term Notes Perum Perumnas, peristiwa restrukturisasi Medium Term Notes Perum Perumnas, jaminan pelunasan Medium Term Notes Perum Perumnas, sampai peran Negara dalam peristiwa gagal bayar Medium Term Notes Perum Perumnas

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This thesis research comprehensively discusses the Medium Term Notes debt instrument in the State-Owned Enterprise (SOE) Perum Perumnas. Previously, Medium Term Notes did not have specific regulations governing their issuance mechanism. Since 2019, Medium Term Notes have been specifically regulated with the issuance of POJK 30/POJK.04/2019 concerning the Issuance of Debt Securities and/or Sukuk Conducted Without Public Offering. Generally, Medium Term Notes are commonly issued by Limited Liability Companies as one of the debt instruments. With the massive issuance of Medium Term Notes, State-Owned Enterprises have also started issuing Medium Term Notes as one of the external funding sources. This thesis also examines the issuance of Medium Term Notes by State-Owned Enterprises in the form of Public Companies (Perum). As known, the entire capital of Perum is owned by the State. Therefore, it is crucial to discuss the extent to which the State plays a role in preventing and addressing the risk of payment delays of Medium Term Notes obligations by Perum Perumnas. The discussion begins by explaining the legal basis for the issuance of Medium Term Notes by Perum Perumnas, the mechanism for issuing Medium Term Notes by Perum Perumnas, the history of Medium Term Notes issuance, the parties involved in Medium Term Notes issuance, events of delayed payment obligations of Medium Term Notes by Perum Perumnas, events of restructuring Medium Term Notes by Perum Perumnas, guarantees for the settlement of Medium Term Notes by Perum Perumnas, and the role of the State in the event of default on Medium Term Notes by Perum Perumnas.