Tuesday, January 5, 2010

PTPN VII issues IDR300 billion MTN

PT Perkebunan Nusantara VII proposed to issued IDR300 billion medium term notes (MTN) with tenure 380 days. The fund will be used to refinance its short term bank loans.
PTPN VII is a state-owned company, engaging in plantation and production of palm oil, rubber, sugar and tea. As of September 30, 2009, the Company’s self-owned planted area amounted to 82,678 hectares (ha) consisting of 33,503 ha for palm oil, 32,082 ha for rubber, 15,663 ha for sugar and 1,430 ha for tea while plasma plantation area was 31,376 ha consisting of 23,868 ha for palm oil and 7,508 ha for sugar.
PTPN VII projected to have business expansion so that the corporate assets could be worth IDR6 trillion by 2012 with beyond IDR1 trillion net profits.

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