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Tuesday, March 2, 2010

Titan Petrokimia submits its bond application

Titan Petrokimia submits its bond application
Irvin Avriano A.

JAKARTA: Capital Market and Financial Institution Supervisory Agency (Badan Pengawas Pasar Modal dan Lembaga Keuangan/Bapepam-LK) finally accept the application of bond and sukuk issuances plan from PT Titan Petrokima Nusantara, which is a subsidiary of PT Titan Kimia Nusantara Tbk.

"We have accepted the issuance application from them, the total amount of issuance is IDR500 billion, that divided in conventional bond worth IDR300 billion and sukuk IDR200 billion," said Anis Baridwan, Real Sector Corporate Assessment Bureau Chief of Bapepam-LK, to Bisnis this afternoon.

The application is already in doubt because of the intention of the emitters to delay the IPO of its bonds related with the global investment climate.

Previously, Titan Kimia Corporate Secretary Merciana Anggani said the company still rereviewing the issuance. "Now, we considering the issuance plan. We have consulted it with the underwriter, such as Indo Premier," she said in Februari 10th.

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