Pegadaian to issue Rp 400b in bonds

Pegadaian to issue Rp 400b in bonds

JAKARTA: State-owned pawn shop operator Perum Pegadaian said it
would issue Rp 400 billion (US$47 million) worth of bonds to
raise cash to refinance its maturing debts and for working
capital.

The company said the bonds would be offered from June 26 to
June 30 with a maturity period of eight years.

Some Rp 200 billion of the proceeds will be used to refinance
the company's maturing debts, while the remaining will be used
for working capital.

Pegadaian has total debts of around Rp 1.8 trillion of which
some Rp 856 billion are in the form of bonds.

Pegadaian has appointed PT Andalan Artha Advisindo Sekuritas
and PT Danareksa Sekuritas as underwriters for the issue. -- JP