JAKARTA (The Jakarta Post) : Publicly listed property developer PT Bakrieland Development plans to issue Rp 500 billion (around US$53.2 million) in bonds.
"Some Rp 150 billion of the bonds, Series A, will be offered with a maturity of three years with an interest rate between 11.35 and 12 percent.
"The remaining Rp 350 billion, Series B, will be available with a five-year maturity profile and an interest rate of between 11.95 and 12.95 percent," president director Hiramsyah Sambudhy Thaib told a press conference Wednesday.
He said the book building period would take place from Jan. 23 to Feb. 5, with the bonds to be officially listed at the Jakarta Stock Exchange on March 3.
He said around Rp 350 billion of the proceeds would be allocated to finance several projects, mainly in the development of residential properties such as apartments and office buildings. (tin)
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