Tuesday, January 26, 2010

Credit Suisse and Nomura handle Bakrie notes

PT Bakrie & Brothers Tbk has appointed Credit Suisse (CS) and Nomura Securities to become underwriters equity linked notes valued at US$150 million-200 million.
The notes will be used for debt refinancing and investment which will be issued from February to March 2010.
In the public expose, Bakrie & Brothers December 14, 2009 said the investment holding company owned by the Bakrie through Long Haul Holdings Ltd with 21.61 percent per September 2009 said the exchangeable bond issuance or equity linked notes worth US$200-250 million.
Exchangeable bonds are bonds that allow the holders to exchange into equity portfolio possessed by the bond issuer. Meanwhile, convertible bond is only exchangeable into equity of the bond issuer company.

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