Bhakti Investama to offer bonds<\/p>\n
JAKARTA: Securities firm PT Bhakti Investama said Wednesday it
\nwould issue up to Rp 200 billion (US$21.27 million) worth of
\nbonds next month to raise funds for new investments and working
\ncapital.<\/p>\n
The bonds will be split into two tranches. The company
\nindicated in a prospectus for the issue that the first tranche
\nwill offer a fixed coupon of between 18.75 percent and 19.75
\npercent. The second tranche will offer a fixed coupon of between
\n19.50 percent and 20.75 percent for the first year, and a
\nfloating rate of 250 basis points above the average three-month
\ntime deposit rates of major local banks thereafter.<\/p>\n
The company has named PT Agung Securities Indonesia as
\nunderwriter for the bond issue.<\/p>\n
A slew of local companies is tapping the local debt market
\namid a declining interest rate environment. Bond issues are a
\nmeans for companies to raise funds as most local banks, which
\nhave become undercapitalized following the 1997 Asian financial
\ncrisis, are still unable to lend. -- Dow Jones<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bhakti-investama-to-offer-bonds-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}