Jun 23, 2010

Bakrieland aims to issue Rp5 trio bond

Property developer owned by Bakrie Group, PT Bakrieland Development Tbk (ELTY), considers to issue rupiah denominated bond worth Rp3 trillion-Rp5 trillion in a bid to balance its debt structure next year.
The proposed bond issuance is following syndicated bank loan seized by Bakrieland worth Rp2.5 trillion this year.
Bakrieland's President Director Hiramsyah S. Thaib said the company aims to issue rupiah bond in the first half next year with long teneur. 
"We hope bond issuance might ease debt payment of Rp1.4 trillion in the first year of installment," he said.
Bakrieland had secured syndicated banks loan from PT Bank Negara Indonesia Tbk, PT Bank Rakyat Indonesia Tbk, PT Bank Jabar, PT Bank Jateng, PT Bank Jatim, dan PT Bank Riau. 

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