Jasa Marga taking orders for bonds

Jasa Marga taking orders for bonds

JAKARTA: Indonesia's state-owned toll road operator PT Jasa
Marga on Wednesday started book-building for its Rp 1 trillion
(US$118 million) 10-year bond offering, company President
Saryfuddin Alambai said.

The Jasa Marga bond will offer a fixed coupon rate of between
11.75-12.50 percent during the first five years, and between
12.75-13.50 percent for the remaining tenor, he told reporters.

The company will list the bond, its 11th issue, on the
Surabaya Stock Exchange Oct. 13. The bonds will be offered
locally.

Proceeds from the bond sale will be mainly used to finance the
building of a toll road in Jakarta.

Local credit rating agency Pefindo has assigned an A+ rating
on the bond, saying it reflects Jasa Marga's strong capacity to
meet its long-term financial commitment.

The bond is underwritten by PT Danareksa Sekuritas, PT
Trimegah Securities and PT Kresna Sekuritas. -- Dow Jones