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Tuesday, May 24, 2011

PTPN XIII issue IDR80 bio MTN

24/5/2011
Irvin Avriano A.

PTPN XIII issue IDR80 bio MTN

JAKARTA: PT Perkebunan Nusantara XIII (PTPN XIII), Pontianak-based SOE plantation company, issue their very first medium term notes (MTN) worth IDR80 billion. The fixed income securities tenured 2 years.

The matter announced on Indonesia Central Securities Depository (PT Kustodian Sentral Efek Indonesia/KSEI) official website today. The private-offered type securities burdened by 9.35% p.a. interest that will be paid every 3 months.

The company which commandeered by Kusumandaru helped by PT Andalan Artha Advisindo Sekuritas (AAA Securities) as the MTN issuance arranger. The MTN named PTPN XIII MTN I/2011 Seri A.

PTPN XIII is established in 1996 as an amalgamation of the eight project development from previously owned by PTPN VI, VII, XII, XIII, XVIII, XXIV-V, XXVI and XXIX which located in Kalimantan island. The company's main product are oil palm and rubber.

Previously, AAA Securities arranged PT Tifa Finance MTN issuance. Tifa Finance issued I/2011 which divided into three tranche. A & B tranche worth IDR20 bio tenured a year, respectively, while C trancheworth IDR60 bio with same tenure and will mature on April 8th next year.

The three tranche MTN will give interest 11% p.a. to its investors. The multi-finance company commandeered by Suwinto Johan and its MTN already pocketed BBB+ rating with stable outlook from PT ICRA Indonesia.

Tifa Finance which previously named PT Dwi Satrya Utama have pegged MTN issuance targetworth total IDR200 bio this year.

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