Indosiar to issue Rp 720b in bonds

Indosiar to issue Rp 720b in bonds

JAKARTA: Television broadcaster PT Indosiar Visual Mandiri announced that it would issue Rp 720 billion (US$87.8 million) bonds through a right issue scheme.

In its report to the Jakarta Stock Exchange on Wednesday the company explained the scheme would allow an investor who owned every one lot of shares to order Rp 175,000 worth of bonds.

Indosiar will also add a sweetener by giving 150 notes of free-of-charge warrants to every one lot of shares.

The scheme was chosen to encourage investors to put their money in Indosiar shares in the future.

The company did not provide details about the issuance schedule for the bonds and its coupon. -- JP