Alfa Retailindo to issue bonds

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