The Jakarta Post
State investment company PT Danareksa expects to raise up to Rp 1 trillion (US$103.7 million) from two phases of bond sales in 2013 to strengthen the company’s capital structure.
In the first phase, Danareksa intends to issue two series of bonds, A and B, with maturities of three and five years, respectively. The company expects to generate about Rp 500 billion from the bonds, which have obtained an A rating from local rating agency PT Pemeringkat Efek Indonesia (Pefindo).
The A series bonds will offer a coupon rate of between 7.25 percent and 8.25 percent per annum, while those in the B series will offer a rate of 7.875 percent to 8.875 percent a year. Coupon payments will be made every three months.
The first bond offering period will take place from Jan. 2 to 4. Danareksa is scheduled to list the bonds on the Indonesia Stock Exchange (IDX) on Jan. 10 and has a...