PT Salim Ivomas Pratama plans to bolster its bonds issuance value to IDR1.5 trillion from IDR1 trillion to refinance Indofood Agri Resources Ltd's (IndoAgri) shoter-term debt.
This is expressed in the information released by PT Pemeringkat Efek Indonesia (Pefindo), which reveals the business unit of IndoAgri plans to issue bond and operational lease Islamic bond (sukuk ijarah) worth IDR1.25 trillion and IDR250 billion, respectively, in the first semester of 2009.
This is a 50% jump from the previous IDR1 trillion expressed by Chief Executive Officer of IndoAgri Mark Julian Wakeford in July and written in the financial statement as of June 30, 2009, which was not audited by First Pacific Company Limited.
The financial statement exposes Salim Ivomas is processing its 5-year bonds to refinance the short-term debts of IndoAgri, a subsidiary of publicly listed company (Plc) PT Indofood Sukses Makmur.
Pefindo, in the meantime, gives AA-rating with stable outlooks to Salim Ivomas bonds.
Salim Ivomas is one the largest plantations most integrated vertically in Indonesia.
Wednesday, September 9, 2009
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