Titan pricing bonds at 12.35%

PT Titan Petrokimia Nusantara, the subsidiary of PT Titan Kimia Nusantara Tbk, has finalized bookbuilding and collected the bond and sukuk issuance demand
The company pricing coupon of bonds worth totaling IDR500 billion with 5 years tenure is set higher or 12.35 percent.
Titan appointed Indo Premier Securities and PT Standard Chartered Securities Indonesia as the underwriters.
Titan Ki­mia Nusantara, the largest raw material producer for biaxially oriented polypropylene (BOPP) plastick packaging, this year plans to produce 337,500 metric tons or 15 percent of the last year production of 293,334 metric tons.
Titan Petrokimia Nu­santara, plans to allocate US$2.7 million capital expenditure this year.