Bakrieland to issue bonds worth $101m next year
Ika Krismantari, The Jakarta Post, Jakarta | Wed, 08/05/2009 10:21 PM
Local construction company PT Bakrieland Development is planning to issue bonds worth a total of Rp 1 trillion (US$101 million) next year to refinance debts.
Bakrieland president director Hiramsyah S. Thaib said Wednesday that the proceeds from the bonds issuance would be used to pay off its bank loans.
However, the company is still studying whether the bonds would take conventional form or sukuk (sharia bond).
By using the bonds to pay the existing loans, the company hopes to secure bigger loans from banks in the future, Hiramsyah said.
