May 4, 2012

Lautan Luas to issue Rp800 bio bonds

PT Lautan Luas Tbk (LTLS) aims to issue Rp500 billion-Rp800 billion bonds in the third quarter of this year. Director Herman Santoso said the company will use the bond proceed to refinance existing bonds and additional capital expenditure next year.
According to him, as quoted by Bisnis Indonesia today, Lautan Luas is exploring an opportunity to pick lead underwriters.
"Our existing bonds will due in March next year. Hence, we will use June or September's financial statement," he said.
Lautan Luas is scouting a Rp6 trillion revenue this year, a 20% increase from Rp5.5 trillion last year.
Disclosure: No position at the stock mentioned above.

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