Adhi Karya to issue Rp 200b in bonds

Adhi Karya to issue Rp 200b in bonds

JAKARTA: Indonesia's state-owned construction company PT Adhi
Karya will issue around Rp 200 billion in bonds in the second
quarter of the year to partly refinance maturing debts and raise
cash for working capital, a banker involved in the plan said
Friday.

The company has appointed PT Danareksa Sekuritas as lead
underwriter for the issue, Wazhari Wardaya, Danareksa's president
director, said.

The company hasn't set a detailed timetable for the bond issue
yet, he said.

A slew of local companies are rushing to tap the domestic bond
market currently amid falling interest rates. Over Rp 7 trillion
in new corporate bonds is expected to be issued this year. -- Dow
Jones