Sep 20, 2010

Jasa Marga sets 8.75%-9.95% coupon

Publicly listed toll road operator PT Jasa Marga Tbk sets 8.75%-9.95% coupon for its Rp1 trillion bond out of Rp1.5 trillion the total issued bond.
Head of Syariah Finance PT Mandiri Sekurtitas Syafei saidt hat the coupon was set along with 8.5%-9.9% yield for the Rp500 billion zero coupon bonds.
“Jasa Marga’s bond XIV series JM-10 poses the fixed rate maturing over the next 10 years and will be paid once in every three months. The range is between 8.75% and 9.95%,” he said as reported by Bisnis.com today.
Nonetheless, Jasa Marga’s President Director Frans S. Sunito also expressed his optimism that the bond will be well absorbed by market considering the company’s impressive track record.
About 43% fund generated from the bond issuance will be used to settle the matured bond while the remaining 27% will be allocated for the investment credit.
“Around 25% will be exploited to develop our business line in the non-toll sector, while the remaining 5% used to finance our working capital,” said Frans. 

Disclosure: No position at the stock mentioned above.

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