Friday, September 11, 2009

Multi Nitrotama picks Indo Premier & Trimegah to handle bonds

PT Multi Nitrotama Kimia, the subsidiary company of PT Ancora Resources Tbk, plans to issue US$35 million bonds.
Multi Nitrotama has appointed PT Indo Premier Securities and PT Trimegah Securities Tbk to become underwriter by end of the year.
Ancora is to have IDR200 billion bank loan as extra funding for the acqusitioin of PT Bormindo Nusantara and capital participation increase at Multi Nitrotama. Multi Nitrotama plans to build plant to increase the production capacity of nitrate ammonium which requires US$49 million fund of which some US$35 millino will be covered by the bond issuance.

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