Aug 11, 2011

APLN sets bonds coupon at 10%-11%

Property developer PT Agung Podomoro Land Tbk (APLN) has finally upsized its bonds to Rp1.2 trillion from the initial plan of Rp800 billion. The company has set coupon of a 3-year series at 10% and 5-year series at 11%.
Corporate Secretary Prisca Batubara, as quoted by Bisnis Indonesia today, said the company set the coupon after it decided to jack up the bonds size to Rp1.2 trillion. During a book building, the bonds received Rp3 trillion demand from investors.
The 3-year series has been set at Rp325 billion and another series has been set at Rp875 billion.
Pefindo President Director Ronald T. Andi Kasim confirmed that Agung Podomoro has jacked up the bonds size. "Initially, they have plan to secure a Rp400 billion bank loan next year. However, Agung Podomoro prefers to get additional bonds," he said.
Four underwriters help arranging the bonds such as PT Mandiri Sekuritas, PT Indo Premier Securities, PT Deutsche Securities Indonesia, and PT Standard Chartered Securities.

Disclosure: No position at the stock mentioned above.
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