Mulialand to issue bonds

Mulialand to issue bonds

JAKARTA (JP): Publicly-listed property developer PT Mulialand
will float five-year bonds worth Rp 150 billion (US$64.7 million)
this month to improve its financing efficiency, the company
announced yesterday.

The company did not disclose its interest rate. It said,
however, the rate for the bearer bonds will remain the same for
the first three years and will increase during the fourth and
fifth years.

PT Mulialand, which operates office buildings in Jakarta's so-
called golden triangle (bounded by Jl. Sudirman, Jl. Gatot
Soebroto and Kuningan), has already received a BBB+ rating from
PT Pefindo for the issuance of the bonds.

PT Bahana Securities will underwrite the bond issue. (bnt)