Mar 19, 2012

Apexindo to pay Rp21 bio bond coupon

A drilling company PT Apexindo Pratama Duta Tbk (APEX), nonlisted company that is controlled by Assera Capital through Tuscany Investment, has committed to pay a Rp21.67 billion the-eleventh coupons on its rupiah denominated bonds. The coupon will mature on March 19 2012. 
Director Erwin Sutanto at Apexindo, in a filing to Indonesia Stock Exchange (IDX), said the company will pay Rp10.42 billion coupon on Apexindo bond II A series and Rp11.25 billion on B series.
As reported on its financial statement, Apexindo issued Rp600 billion bonds on April 8 2009. The bonds are consisting of A and B series worth Rp300 billion each with different maturity.
A series bond, bearing a 13.90% interest a year, will mature on June 19 2012 and the remaining, charging 15% interest per annum, will due on June 19 2014. 
New owner
Apexindo is now controlled by Tuscany Investment, which is under a group of Assera Capital Partner. Assera Capital is established by three businessmen such as Abidin Siregar, former Head of Global Markets at Bank of America-Merrill Lynch, and Erwin Sutanto, former President Director of PT Central Proteinaprima Tbk (CPRO). 

Disclosure: No position at the stock mentioned above.

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