Jasa Marga to issue Rp 900b bonds

Jasa Marga to issue Rp 900b bonds

JAKARTA: Indonesia's state-owned toll road builder and operator PT Jasa Marga said on Friday it will issue Rp 900 billion (US$105 million) in 10-year bonds in September to finance a new toll road project in Jakarta.

The company said the bond will have a fixed coupon, which has yet to be decided.

It has named PT Danareksa Sekuritas, PT Trimegah Securities, and PT Kresna Graha Sekurindo as joint lead underwriters for the issue.

Jasa Marga booked a net profit of Rp 148.42 billion in 2002, down slightly from Rp 157.72 billion a year earlier.

The bond will be its 19th issue since 1983.

Jasa Marga is one of many local companies tapping the local debt market this year amid falling interest rates and with banks reluctant to lend.--Dow Jones