Tuesday, September 13, 2011

Pegadaian plans to accelarate IDR700 billion debt payment

Perum Pegadaian, Indonesian state-owned pawn shop, plans to acccelerate IDR700 billion debty payment to PT Bank Negara Indonesia Tbk, PT Bank Rakyat Indonesia Tbk, and PT Bank Mandiri Tbk.

Pegadaian plans to pay each IDR300 billion to BRI and Bank Mandiri. The company also pay IDR100 billion to BNI.

Pegadaian plans to sell IDR2 trillion rupiah of bonds in two stages with the first IDR1 trillion to be sold next month for working capital and to reduce bank loans. The first bonds will be offered from Oct. 3 through Oct. 6, the company said. PT Bahana Securities and PT Danareksa Sekuritas will helps Pegadaian as a underwriter.

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