Eterindo issues bonds

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)