SSX to trade new bonds

SSX to trade new bonds

SURABAYA (JP): The Surabaya Stock Exchange (SSX) said on
Monday it has signed a preliminary agreement with six local
companies for the listing of their Rp 6 trillion (about US$790
million) worth of bonds at the exchange.

SSX president Anton Natakoesoemah said here that the bonds of
the state-owned pawnshop service company Perum Pegadaian would be
listed with a total value of Rp 135 billion, Bank NISP Rp 500
billion, and PT Indah Kiat Pulp & Paper Rp 2 trillion.

He said other bonds worth about Rp 3.4 trillion would be
floated by three other local companies but he refused to disclose
their names.

The potential growth in the local bond market for the next few
years is expected to be great, as companies who need additional
funding to support operations would still have difficulty getting
bank loans locally as well as abroad.

"Issuing bonds is now a good opportunity especially for the
medium to small-scale companies and cooperatives," Anton said.

At least 34 companies list their bonds on the East Java
capital's stock exchange, which will start its scripless bond
trading in March next year to boost bond transactions. (nur/udi)