Alfa Retailindo to issue bonds

JAKARTA: Retail company PT Alfa Retailindo will issue its first fixed-rate bonds worth Rp 125 billion (about US$14.7 million) in July, the company announced on Monday.

It said that the bonds would have a maturity period of five years.

The company said it would use 65 percent of the proceeds to build new stores and 35 percent to help refinance part of its debts.

The yield rate of the bonds will be announced during the offering period from July 8 to July 10. Alfa has appointed PT Financorpindo Nusa as the underwriter of the bond issue and PT Bank Permata as the trustee.

Alfa's 2002 sales rose by 20.8 percent to Rp 3.2 trillion from Rp 2.7 trillion in 2001. Its net profit increased by 15.5 percent to Rp 30.6 billion from Rp 26.5 billion in 2001. -- JP