Aug 12, 2010

Danareksa to issue Rp500 bio bonds

State-owned financial company PT Danareksa (Persero) aims to issue Rp500 billion bonds in the second half of this year.
Danareksa President Director Edgar Ekaputra said the rupiah denominated bond proceed will be used to refinance existing debt and long term financing.
"We consider Rp500 billion bonds issuance in the second half this year. We will use Juli's financial report as a base for bond issuance," he said as reported by today.
According to him, Danareksa will use the proceed to refinance existing bonds worth Rp30 billion due next year.
He said Danareksa is estimated to post net profit in the first half this year, a reversal from the first quarter which was in red.

Disclosure: No position at the stock mentioned above.

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