JAKARTA (Yosefardi) – Property developer PT Duta Anggada Realty Tbk (DART) plans to issue bonds worth Rp500 billion with tenor of 5 years, part of its Rp1 trillion bond program.
The book building is scheduled for September 11-20, 2013 while the offering is set for October 1-3, 2013. Acting as underwriters for the bond are PT BCA Sekuritas and PT Maybank Kim Eng Securities.
The company will use bond fund of US$20 million for paying loan to PT Bank Pan Indonesia Tbk (Bank Panin) and the rest will be used as working capital for Icon Tower project (formerly Chase Extension) and Holiday In Hotel & Suites.
As of March 2013, the company’s liability totaled Rp1.46 trillion. Its assets reached Rp4.37 trillion.