JAKARTA (Yosefardi) – State financing firm PT Permodalan Nasional Madani plans to issue bonds worth Rp500 billion, part of its Rp2 trillion bonds issue program. The company will issue bonds in three series with tenor of 370 days, 3 years and 5 years.
Acting as underwriters are Bahana Securities and Indo Premier Securities. The book building starts today and will last in December 1, 2014. While the offering is scheduled for December 15-16, 2014.
The bond proceeds will be used for refinancing debts to HSBC Bank and Bank Negara Indonesia (20%) and for working capital (80%). As of June 30, 2014, the company’s liability totaled Rp4.33 trillion. While assets reached Rp4.97 trillion. It booked net profit of Rp33.8 billion in first half of 2014 on revenue of Rp518 billion.