'SCTV' increases bond sale

'SCTV' increases bond sale

JAKARTA: Surya Citra Televisi (SCTV), Indonesia's No. 3 television network, increased the sale of its five-year bonds by a fifth to Rp 425 billion (US$ 51.5 million) to meet investor demand.

The bonds, which will be sold this month, will carry a coupon of 13.75 percent.

"We received positive response from investors," said Hardijanto Saroso, corporate secretary at SCTV.

SCTV received bids for Rp 1.2 trillion of debt, he said.

It originally planned to sell Rp 350 billion of bonds. -- Bloomberg