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Friday, September 30, 2011

Sinarmas' Chipdeco issue $15 mio MTN

Irvin Avriano A.

Sinarmas' Chipdeco issue $15 mio MTN

JAKARTA: Another Sinarmas Forestry company, PT Chipdeco Inti Utama, issue US dollar denominated 5 years medium term notes (MTN) worth $15 million.

The issuance published in the Indonesia Central Securities Depository (PT Kustodian Sentral Efek Indonesia/KSEI) website in September 8th. Based on the data, the company charged interest coupon 6% per annum.

The coupon should be paid on September 9th and every next three months. The issuance was helped by PT Indo Premier Securities as arranger.

Based on several websites, the company was foothold in Jl Pangeran Aji Iskandar, Juata Laut, tarakan Utara, East Kalimantan, 77116.

The issuance also cumulate the similar issuance by another Sinar Mas Group companies, namely PT Bumi Persada Permai and PT Sarana Bina Semesta Alam.

Sarana Bina Semesta Alam already MTN/2011 I & II series worth US$10 mio and III series US$15 mio which all of it will mature on Agustus 3rd 2016.

The company, commandeered by Stevanus Najoan, incorporated in 2007 and exported its first products to Haynan, China, on Juli 2009.
The Serpong-based company have akasia wood factory mills in Dusun Tanjung Karas, Kecamatan Muara Kaman, Kutai Kartanegara, Kalimantan, with strong support from its group in Sinarmas Forestry.

In the other side, Bumi Persada Permai issue MTN I and II series earlier worth total US$20 mio. The company was member of Sinarmas Group which focussed on developing industrial forest (hutan tanaman industri/HTI).

All of the company use the same arranger, burdened with same arranger, and matured in the same date.



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