Pupuk Kaltim to sell Rp 1.3 trillion of bonds

[Indonesia promotor]

The Jakarta Post , Jakarta | Thu, 08/06/2009 10:38 AM |
Business

State fertilizer producer PT Pupuk Kaltim plans to sell 5-year bonds
worth Rp 1.3 trillion (US$131 million) in September to finance several
projects as part of its expansion. “We will sell Rp 1 trillion in
conventional bonds and the rest in sukuk [sharia-based bonds],” Pupuk
Kaltim president director Hidayat Nyakmat said Wednesday. “Pupuk
Kaltim has appointed Danareksa as the underwriter and Yusuf Indradewa
as the legal consultant for the bond issue.” He explained Rp 300
billion of the proceeds would be used to finance an ongoing project to
produce NPK, a type of fertilizer. The remaining Rp 1 trillion, or
about $100 million, will be spent on building a steam power plant to
support its fertilizer factories. The company plans to register its
bonds with the Capital Market and Financial Institutions Supervisory
Agency (Bapepam-LK) in mid September, he said. More information:
http://www.itpponline.biz/JKP080809.htm