Aug 20, 2011

Bakrie aims to issue Rp1 trio bonds

PT Bakrie&Brothers Tbk (BNBR) aims to issue Rp1 trillion of rupiah denominated bonds in the last quarter of this year and has dropped its initial plan to raise fund from US dollar bonds.
BNBR CFO Eddy Soeparno said the company has submitted documents to obtain a rating from rating agency PT Pemeringkat Efek Indonesia (Pefindo).
"We will use an audited financial statement in September as a based for the bonds issuance," he said last night.
According to him, Bakrie will use the bonds proceed to make an early refinancing of medium secured notes (MSN).
The company plans to make early refinancing of Rp3.3 trillion notes and it paid Rp1.2 trillion notes in the first half of this year as well.
Disclosure: No position at the stock mentioned above.

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