Indorent seeks $10m

Mon, 06 May 1996 | Source: HEN

Indorent seeks $10m

JAKARTA (JP): Indorent, a member of the Indomobil Group, expects to raise around US$10 million from the issuance of its short-term notes in Singapore last week.

The company announced Saturday that the fresh funds to be raised from the three-year debt instruments would be used to boost its car rental activities.

The issuance of the debt instruments is being lead managed by IBJ Merchant Bank (Singapore) Limited, with the Singapore branch of the Industrial Bank of Japan acting as an agent and IBJ Indonesia Bank as a securities agent.(hen)

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