Mayora to issue Rp 200b bonds

JAKARTA: Consumer goods company PT Mayora Indah announced Monday it would issue Rp 200 billion (US$24.5 million) in bonds with indicative fixed-rate coupons ranging from 13.5 percent to 14.25 percent with a maturity period of five years.

The company announced that Rp 150 billion of the proceeds from the bonds would be used to refinance its dollar-denominated debts at its subsidiaries, while the remaining Rp 50 billion will be used for business expansion.

The bonds have received an A rating from local rating agency PT Pefindo.

Acting as the underwriter of the bonds is PT Danareksa Sekuritas. Preliminary orders will be done from June 9 to June 17, while its listing on the Surabaya Stock Exchange is slated for July 16.

Mayora expected its sales for this year to increase by 20 percent to Rp 1.2 trillion from Rp 998 billion in 2002. -- JP