PT Duta Anggada to issue bonds worth Rp 100 billion
PT Duta Anggada to issue bonds worth Rp 100 billion
JAKARTA (JP): PT Duta Anggada Realty, a property company
listed on the Jakarta Stock Exchange (JSX), announced its plan
here yesterday to issue bonds worth Rp 100 billion (US$46.5
million) to finance new property projects.
Hartadi Angkosubroto, the president of the company, said here
yesterday that the debt securities, the second issuance after
last year's bond issuance of Rp 25 billion, would be sold at par
and would carry a fixed interest rate.
The interest rate of the bonds, which will have a maturity of
six years, has not been fixed, he said.
An executive of Sigma Batara, which arranges the bond issue,
said indicative rates of the bonds, which received a triple B
minus rating from the Pefindo rating agency, will be set at
around 17 percent per annum.
Hartadi said the funds to be raised from the bond issuance
would be used to partly finance new apartment and office building
projects.
Duta Anggada, which at present owns a number of apartments,
office buildings and housing facilities in Jakarta and Surabaya,
is currently constructing a number of new office buildings and
apartments in the capital, he said.
"The new property projects include the Bapindo Center, Agro
Plaza, Pavilion Park, Hayam Wuruk Plaza, Menteng Regency and
Jatinegara Plaza," he explained.
The bonds will be offered to the public early next month and
will be listed on the over-the-counter market at the end of the
month.
The bond issuance is arranged by Sigma Batara securities
company, with the state-owned Bank Rakyat Indonesia (BRI) acting
as its trustee.
Duta Anggada, with total assets of around Rp 878 billion
($353.48 million) as of last September, is a member of the Gunung
Sewu Group.
According to the company's unaudited financial reports, the
sales revenues almost doubled to Rp 70.85 billion last year
ending on Sept. 30, from Rp 37.34 billion in the same period of
1993, while its pre-tax profit rose to Rp 42.53 billion from Rp
21.99 billion. (hen)