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Thursday, November 25, 2010

Perumnas and Ideas Elit Mulia issue IDR30 bio and US$200 mio MTN

BI/exchange
2/11/2010
Irvin Avriano A.

Perumnas and Ideas Elit Mulia issue IDR30 bio and US$200 mio MTN

JAKARTA: PT Perum Perumnas and PT Ideas Elit Mulia issue medium-term notes (MTN) worth IDR30 billion and US$200 million.

In the information disclosure of Indonesian Central Securities Depository (PT Kustodian Sentral Efek Indonesia/KSEI) today is indicated coupon for Perumnas debt securities are 14% that will be paid every 3 month to its investors. The property developer's debt securities will mature in November next year.

The debt securities issuance is following the earlier Perumnas' MTN issuance earlier this year valued at IDR100 billion. The MTN that planned to be issued in the second half of this year that projected amount up to IDR100 billion is required to build up a reserve of land (land bank) to 20,000 hectares, from the current area of 2,500 hectares.

Previously, Perumnas also issued similar bonds worth IDR100 billion, with underwriters PT Danareksa Securities earlier this year.

According to Bisnis records, Perumnas had initially planned to issue the kind of bonds amounting to IDR600 billion in the second half of this year. So, if it refers to that amount, the company plans initiate to reduce the amount of debt issuance.

Still from the same KSEI sites, other companies namely Ideas Elit Mulia, the swimming facilities developer of Gelora Bung Karno water sport facility, issued a US$ 200 million MTN.

The company is in a project to make Senayan Aquatic Stadium, a swimming sport center that can be the pride of Jakarta residents.

The debt securities that tenured for 10-year charged with 7% in interest per annum, the coupon will be paid the first time to investors in 2014 on an annual basis.

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