Aug 15, 2011

Nippon Indosari drops bonds issuance

PT Nippon Indosari Corpindo Tbk, Sari Roti bread maker, has decided to drop its initial plan to issue rupiah denominated bonds as it will obtain bank loan facilities to establish two new bread making facilities.
Operational Director Yusuf Hadi, as quoted by Bisnis Indonesia today, said Nippon Indosari will secure Rp150 billion bank loan facilities in the last quarter of this year.
"We decided to borrow the money from banks as the loan is more flexible than bonds issuance. The facilities will be used in several stages based on the need," he said.

Disclosure: No position at the stock mentioned above.

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