Apr 28, 2010

MNC to issue US$400 million bond

PT Media Nusantara Citra Tbk (MNC), parent company of RCTI, plans to issue global bond of up to $400 millions in June or July this year. 
MNC has also mandated Morgan Stanlay and Standard Chartered as a joint lead managers for the bond issue.
In public presentation, CEO MNC Hary Tanoesudibjo said proceed from the bond issue will be used to refinance debt worth US$143 million maturing in September 2011, working capital of Rp200 billion, and underpinning business expansion and investment in this year, 
The bond will list in Singapore Stock Exchange and has tenor 5 to 7 years. MNC also has planned to acquire 16 local TV and looking an apportunity to go global by acquiring international media firm.
The company aims to increase stakes in TPI from 75% to 100%. This year MNCN expects net profit of Rp700 billion, higher than Rp607 billion in the previous year. Revenue is estimated to grow 21% from Rp3.9 trillion to Rp4.6 trillion this year.

No comments: