Unggul Indah offers Rp 600b bonds

Unggul Indah offers Rp 600b bonds

JAKARTA: PT Unggul Indah Cahaya Tbk, the major supplier of
alkylbenzene, the raw material for detergent in the Asia Pacific
region, announced on Tuesday its plan to offer Rp 600 billion
worth of bonds.

The company said in a statement that the five-year bonds will
come in two series: Series A will have a fixed rate of between
12.375 percent and 12.875 percent, while Series B will have the
Series A fixed rate for the first year, and floating rates of the
average three months deposit rate, plus a premium of between 2
percent and 2.5 percent, in the remaining years.

The bonds were given an A rating with a stable outlook by
local rating agency Pefindo.

The bond offering will be fully underwritten by PT Trimegah
Securities Tbk and PT Danatama Makmur.

About 70 percent of the bond proceeds will be used to
refinance the firm's debts. -- JP