Tjiwi Kimia to issue bonds

Tjiwi Kimia to issue bonds

JAKARTA (JP): PT Tjiwi Kimia, a publicly-listed paper producer
of the Sinar Mas Group, said yesterday that it will issue bonds
worth Rp 200 billion (US$85 million) to repay its debts.

The company said in a statement that 70 percent of the total
proceeds will be allocated for refinancing its short term debts
and the remaining 30 percent for repaying its long term debts.

The bonds will have a five-year maturity with a fixed interest
rate.

PT Peregrine Sewu Securities is acting as the lead underwriter
of the bond issue. (alo)