Metrodata to issue bonds

JAKARTA (JP): Publicly listed electronic firm PT Metrodata Electronics will issue five-year bonds worth Rp 65 billion (US$7.3 million) to pay its debts and acquire a stake at its subsidiary, the company said on Friday.

Metrodata said it would use 72 percent of the bonds' proceeds to pay its debt of Rp 45 billion to PT Bank Lippo, while the remaining would be use to acquire a stake at PT Metrodata Global Akses through PT e-Metrodata.Com (EMC).

Metrodata planned to offer the bonds between Nov. 21 and Nov. 23 and list it at the Surabaya Stock Exchange on Dec. 12.

In the first year, the bonds' coupon yields will be fixed at interest rates ranging between 17.12 percent for the A-series and 17.62 percent for the B-series. The yields for the remaining years will be floated at between two and 2.5 percentage points above the average interest rate of the six-month time deposits offered at local banks

Local rating body PT Pemeringkat Efek Indonesia has rated the bonds as id A-. (bkm)