Danareksa 'best debt house'

Danareksa 'best debt house'

JAKARTA (JP): State-owned securities firm PT Danareksa said on
Friday it had received an award from the international financial
magazine Euromoney in the category of "the best debt house in
Indonesia".

The magazine cited the firm's role in helping revive the
country's stock and debt markets, which were close to collapse in
2000 due to the weakening of the rupiah and rising interest rate.

"Amid the unfavorable economic conditions, Danareksa has
become a pioneer in issuing bonds in Indonesia's
telecommunication and cement industries," Danareksa said in a
statement.

The government appointed Danareksa as the lead underwriter for
the issuance of bonds valued at Rp 1 trillion (US$109 million)
early this year by state-owned telecommunication firm PT Indosat
and bonds valued at Rp 600 billion by state cement firm PT Semen
Gresik.

Danareksa also acted as the joint underwriter for the issuance
of the Rp 300 billion in bonds issued by state-owned pawnbrokers
Perum Pegadaian. (11)