Eterindo issues bonds

JAKARTA (JP): Synthetic resins and plasticizer producer PT Eterindo Wahanatama plans to issue US$65 million in convertible bonds to finance the company's chemical manufacturing facilities and shore up its capital.

The company said yesterday the issue was led by Vickers Ballas Tamara along with Bankers Trust International (Asia) Limited, UBS Investment Management Pte Limited, ASC Capital Pte Limited, Temasek Holdings Pte Limited and Permodalan Nasional Berhad, a joint Singapore and Malaysian government company, Singapores' Search Investment Office Pte Limited, Suez Asia Holdings Pte Limited, Vickers Ballas Investments Management Limited and Deutsche Morgan Grenfall Asia Pacific Holdings Pte Limited.

The bonds will convert to shares when the company lists on the local stock exchanges.

The firm's president, Hadiran Sridjaja, said the issue was oversubscribed with demand for the bonds reaching almost $90 million. (09)