WiKa to issue Rp200b in bond

Fri, 07 Feb 2003, 00:00 WIB | Source: DJ

JAKARTA: Indonesia's state-owned construction company PT
Wijaya Karya, or Wika, will issue up to Rp 200 billion in bonds,
the Surabaya Stock Exchange said Thursday.

Wika will use 50 percent of the proceeds as working capital,
40 percent to help refinance maturing bonds, and 10 percent for
business development, the exchange said in a statement.

Wika signed an agreement with the exchange Wednesday to list
the bonds there. The time table for the issuance remains
unavailable.

Some of the bonds will carry fixed rates and some will offer
floating ones, the exchange said. Wika has appointed PT Danareksa
Sekuritas and PT Trimegah Securities to underwrite the bond. --
Dow Jones

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