Sep 11, 2011

Fast Food to issue Rp200 bio bonds

PT Fast Food Indonesia Tbk, license holder of Kentucky Fried Chicken that is controlled by Salim family, intends to raise Rp200 billion in the rupiah-denominated bond market early October.
The-5-year bonds will not be pledged with special guarantees. However, the bonds will be pledged with all the company's assets.
PT OSK Nusadana Securities Indonesia has been mandated as the only lead underwriter by Fast Food, a company with Anthony Salim as president commissioner.
Fast Food will use 65% of the proceed to establish at least 15 new outlets in South Sumatra, Jambi, Jakarta, Jawa Barat, Jawa Timur, Bali, and South Sulawesi.
About 24% of the proceed will be utilized by the company to  renovate at least 30 existing outlets, 7% of the proceed to extend at least 6 warehouses, and the remaining will be used to establish at least 3 new warehouses.

Disclosure: No position at the stock mentioned above.  

Print This Article

No comments: