Dec 28, 2010

Danareksa bonds oversubscribe 5 folds

The state-owned enterprises PT Danareksa (Persero) received 5 times oversubscribed from the offering of the company's V/2010 bonds valued at Rp500 billion that being offered to investors.
"The oversubscribed were about five times more," said President Director of Danareksa Edgar Ekaputra, yesterday.
The bonds were divided into two tranches, i.e. A tranche that mature in 3 years with coupon that offered in the range of 8.875 to 9.625% and B tranche that mature in 5 years with coupon offered in range of 9.625% to 10.375%.
The company will use the bond proceeds to disburse its debts. The state-owned financial company has appointed PT Danareksa Securities, PT Mandiri Securities, and PT Trimegah Securities Tbk as the underwriters of the bond issuance.
Danareksa has also issued bonds worth of IDR200 billion last year and Rp130 billion in 2008. The company led by Edgar was rated idA by PT Pemeringkat Efek Indonesia (Pefindo).

Disclosure: No position at the stock mentioned above.  

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