Sep 20, 2011

Alam Sutera picks two bond arrangers

Property developer PT Alam Sutera Realty Tbk (ASRI) has mandated two lead arrangers to issue US dollar denominated bonds equals to Rp1.1 trillion.
Alam Sutera, that is controlled by Manunggal Group, is in talks with three or four arrangers. However, President Director Tri Ramadi declined to mention the name of the arrangers. He revealed that one of them is UBS Securities.
"We haven't yet mandated the arranger as we are in talks with three or four investment banks," he said as quoted by Bisnis Indonesia.
Corporate Secretary Hendra Kurniawan said Morgan Stanley and UBS Securities are the most active in talks with Alam Sutera, regarding to the bond issuance.

Disclosure: No position at the stock mentioned above.  

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