Property developer PT Agung Podomoro Land Tbk (APLN) is considering to raise Rp800 billion financing via rupiah denominated bond issuance. The proceed will be used by the developer to bankroll capital expenditure requirement.
A source familiar with the matter said Agung Podomoro has picked four underwriters to arrange the issuance. They are Deutsche Bank, Indo Premier Securities, Mandiri Sekuritas, and Standard Chartered Securities.
Agung Podomoro's Corporate Secretary Prisca Batubara said the company is unable to comment the information regarding to the proposed bond issuance. "It is too early to explain the plan."
However, she confirmed that Agung Podomoro is exploring options of financing to underpin Rp3 trillion capital expenditure this year. "We are also seeking bank loan facilities to meet the capex," she said.
Prisca explained the company has obtained Rp2 trillion cash from sales up to May.
PT Pemeringkat Efek Indonesia has also confirmed that the company provided rating for Agung Podomoro. However, Pefindo Director Salyadi Saputra declined to mention the rating.
Disclosure: No position at the stock mentioned above.
Print This Article