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ublicly listed lifestyle accessories retailer PT Mitra Adiperkasa (MAP) will sell Rp 500 billion (US$53.5 million) of bonds next month to service its debt.

The bonds will include Rp 300 billion in conventional bonds and another Rp 200 billion in Islamic bonds (sukuk).

MAP investor relations head Joseph Landri said the company would pay investors a coupon between 11 and 13 percent on its three-year and five-year notes.

"Each tranche will have tenure of three years and five years," Joseph said Friday in Jakarta.

The company has hired four underwriters - PT Danareksa Sekuritas, PT HSBC Securities Indonesia, PT Indo Premier Securities and PT Standard Chartered Securities Indonesia - to assist it in the bond offering.

MAP finance director Susiana Latif said the funds raised from the bond issue would be used to pay off loans due in June next year.

"We have loans of $16 million and 3.4 billion yen," she said.

As of the third quarter of 2009, MAP booked Rp 166.3 billion in net profit, or an increase of 100 percent compared to the same period last year.

Last year, the company suffered from foreign exchange losses of Rp 280 billion.

Currently, MAP operates more than 710 retail stores in 23 major cities in Indonesia.

Global brands in the company's portfolio currently include Loewe, Salvatore Ferragamo, Zara, Massimo Dutti, Marks & Spencer, Topshop/Topman, NEXT, Lacoste, Kipling, Nautica, Swatch, Boots, Lush, H2O and Molton Brown.