PT Salim Ivomas Pratama set the bond coupon and sharia bond of I/2009 on the level of 11.65 percent with the booking up to last week remaining under the target of IDR1.25 trillion.
The company nomination was not willing to increase the coupon value of both securities so some potential investors dropped their booking.
On the last month public expose, the coupon of both bonds were set slightly higher by 175-225 bps above the FR0026 or 11.1-11.6 percent.
Salim Ivomas assigned four other securities firms to become underwriters, namely PT OSK Nusadana Securities Indonesia, PT Mandiri Sekuritas, PT Kim Eng Securities, PT Danareksa Sekuritas, and CIMB Securities.
Salim Ivomas plans to spend IDr1 trillion of the bond and sharia bond tender offer to restructure some of the short term debt. Besides, the company also need to use some IDr250 billion fund from the sharia bonds issuance for the firm capital expenditure in transportation.
The company plans to restructure most of the short term loans gained from some national banks. Based on the corporate finance report per May 2009, the company still has short term obligation worth IDr2.18 trillion and long term one is IDR3.85 trillion.
Monday, November 16, 2009
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment