Indosiar to issue bond

Indosiar to issue bond

JAKARTA : Indonesia's television company PT Indosiar Visual
Mandiri plans to issue up to Rp 700 billion worth of bonds in the
second half of the year to raise working capital, a banker
familiar with the deal said late on Thursday.

The banker, who spoke under the condition of anonymity, said
that the listed company has named Trimegah Securities as the lead
underwriter for the proposed issue.

Other details were unavailable. Indosiar's officials weren't
available for immediate confirmation early on Friday.

A slew of Indonesian companies have tapped the local debt
market this year to take advantage of falling domestic interest
rates.

Raising funds from the bond market has become the best
alternative for Indonesian companies to finance their operations
as most local banks remain unable to lend due to their weak
capital base. --Dow Jones