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Tuesday, December 21, 2010

Indofood buyback IDR36 bio IV/2007 bond

BI/bursa
21/12/2010
Irvin Avriano A.
Bisnis Indonesia

Indofood buyback IDR36 bio IV/2007 bond

JAKARTA: PT Indofood Sukses Makmur Tbk buyback IDR36 billion IV/2007 bond partly from the previous amount of IDR2 trillion.

Indofood Director & Corporate Secretary Werianty Setiawan in the company's disclosure to PT Bursa Efek Indonesia today said the buyback made the existing bond reduce to IDR1.96 trillion.

"All bonds we bought back are treated as a debt settlement," said her in the information disclosure submitted to the Indonesia Stock Exchange (IDX) today. The bonds itself will mature in 2012.

Indofood, that stock coded as INDF, still has V/2009 bonds worth IDR1.61 trillion which will mature in 2014. The bonds are rated AA by PT Pemeringkat Efek Indonesia (Pefindo) with a positive outlook.

The rating is reiterated by Pefindo when the company's instant noodle product is considered hazardous to health in Taiwan, yet having no impact due to a small amount of exports to the country.

Indofood Sukses Makmur has an affiliated company, namely PT Salim Ivomas Pratt, which also issues bonds and sukuk I/2009 worth IDR730 billion.

This year, the company also offered the shares of its subsidiary, PT Indofood CBP Sukses Makmur Tbk, through an initial public offering (IPO) this year with fund raised amount to IDR6 trio. Indofood CBP shares are coded ICBP.

Indofood's shares remained stagnant at IDR4,475 in the closing session. The shares created a market capitalization of IDR39.29 trillion.(T03/NOM)

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