Indofood, Medco to issue bonds

Indofood, Medco to issue bonds

The Jakarta Post, Jakarta

Publicly listed PT Indofood Sukses Makmur, the world's largest
instant noodle maker, plans to issue up to Rp 1 trillion (US$111
million) worth of bonds in June to refinance part of its maturing
debts.

Head of listing division for the Surabaya Stock Exchange (BES)
Umi Kalsum told The Jakarta Post on Monday that Indofood would
sign a preliminary contract with the bourse to list the bonds.

"We plan to sign a preliminary contract with Indofood this
week for the bond issue," said Umi, adding that the bond was
expected to be issued in June.

Indofood has appointed Trimegah Securities, Danareksa
Securities and Bahana Securities as the underwriters of the
planned issue. The bonds will have a five-year maturation period.

Meanwhile, publicly listed energy firm PT Medco Energi
Internasional has also planned to issue bonds worth Rp 1.8
trillion in June to raise funds to help finance an acquisition
plan.

The company has signed a preliminary contract with BES for the
issue last week, and has appointed Mandiri Securities, and UOB
Securities to arrange for the issue.

Medco has planned to acquire Australian energy firm Novus
Petroleum and two local gas working areas in East Java and
Central Sulawesi.