Tuesday, March 30, 2010

Bakrieland prepare

PT Bakrieland Development Tbk, the Bakrie Group subsidiary integrated property company, prepare US$44 million hedging scheme or 30 percent of the US$155 million convertible bonds issued.
The company has appointed Credit Suisse as the placement agent in the offering process to institutional finance investor through its subsidiary firm, BLD Investments Pte Ltd.
The conversion price per share unit is IDR310. Thus, the number of convertible stocks will be 4.35 billion shares or 21.86 percent of the total shares. The convertible bond here had five years tenure with 8.62 percent coupon.

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