PT Energi Mega Persada Tbk (ENRP), The company under Bakrie Group, is targeting financial expenses
reduction of US$15.5 million through the issuance of global bonds worth
US$600 million with 11.5% interest.
The company plans to increase the upper limit of the
5-year bonds interest from previously 9%. The bonds will be issued in
Singapore.
ENRP will use 77% of the proceeds to refinance US$200 million debt to
Credit Suisse due in October 2013 and US$228 million debt to ND Owen
Holdings Ltd. It will begin the bonds roadshow early next month in Singapore, Hong Kong, London, and New York.
The company is eyeing to grab IDR754.86 billion from such bonds issuance with price assumption of IDR186 a share.
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