Indosiar sets coupon at 12.8%

Indosiar sets coupon at 12.8%

JAKARTA: Indonesian television company PT Indosiar Visual Mandiri said Thursday that it has set the coupon for its Rp 717 billion rupiah (US$86 million) in five-year bonds at 12.8%.

The bonds will be offered only to the company's existing shareholders. For every 500 shares held, one bond can be bought at Rp 175,000, or 82.5% of the bond's face value.

As a sweetener, each bond will be issued with 131 warrants. Each warrant can be converted into one share six months after the bonds are issued at prices that will be determined later.

The company will issue the bonds next month.

The proceeds of the issue will be used for working capital and to repay debt. -- Dow Jones