Aug 11, 2011

Citra Marga to issue Rp4 trillion bonds

Toll road operator PT Citra Marga Nusaphala Persada Tbk (CMNP) plans to issue Rp4 trillion bonds in several stages in a bid to underpin its expansion.
Director Indrawan Sumantri said in the first stage, Citra Marga will raise Rp1 trillion in the last quarter of this year.
"We have talked with several parties to issue Rp3 trillion-Rp4 trillion bonds starting late this year," he said as quoted by Bisnis Indonesia today.
So far, CMNP has discussed with three foreign potential underwriters to help the issuance. Foreign investors have more interest than local investors. The company requires Rp5 trillion financing to acquire three unfinished toll roads.
Disclosure: No position at the stock mentioned above.

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