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Saturday, October 1, 2011

Cahaya Buana Kemala issue $20 mio MTN

Irvin Avriano A.

Cahaya Buana Kemala issue $20 mio MTN

JAKARTA: PT Cahaya Buana Kemala issue 3 years medium term notes (MTN) US$20 million that burdened 12% coupon per year.

The announcement made in Indonesia Central Securities Depository (PT Kustodian Sentral Efek Indonesia/KSEI) website in September 19th.

Such MTN will mature in October 5th 2014. The company hired PT Lautandhana Securindo as their fixed income securities issuance arranger.

Previously, there are similar company that issue another 12% MTN also in the end of June, namely PT Cahaya Buana Intitama. Even the issuance amount are not similar, US$15 mio, the company also use Lautandhana Securindo service as arranger.

The two company also focused on furniture segments. But the data is too general and open sources in the internet can not divine a direct connection between two entity.

Cahaya Buana Intitama is a company founded by Simarba Atong Tjia, the founding father of Olympic knock down furniture Olympic, plastic furniture, and spring bed in Indonesia. Cahaya Buana Kemala also works in similar segments, Napolly-brand plastic furniture and Bigland-brand spring bed.

A research also stated that the Cahaya Buana Kemala is a member to Olympic Group or Cahaya Buana Group.



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