Indonesia state-owned pawn shop operator (Perum Pegadaian) plans to raise 1.5 trillion rupiah ($124 million) from bond sales to help it expand as an economic slowdown prompts
more Indonesians to borrow against their belongings.
Perum Pegadaian may sell five- to 10-year bonds. The pawnbroker expects to increase lending by to 49 trillion rupiah this year as banks shun all but the safest loans and slowing economic growth pushes more Indonesians to pawn cars, motorcycles and jewelry.
Pegadaian has 1.78 trillion rupiah of bonds outstanding that will mature between 2010 and 2018.
Wednesday, March 4, 2009
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