Golden Agri-Resources' Indonesian unit sells Rp 1 trillion of bonds

By Marisa Wong

Madison, Wis., June 26 - Golden Agri-Resources Ltd. announced that subsidiary PT Sinar Mas Agro Resources and Technology Tbk. (PT Smart) has raised Rp 1 trillion from a public offering of bonds.

The offering makes up the first phase of Smart's previously announced fixed-rate Indonesia rupiah bond program. The subsidiary plans to offer Rp 3 trillion of bonds to the public under the program.

The first tranche is expected to settle on July 3. The bonds will be listed on the Indonesia Stock Exchange on July 4.

Golden Agri-Resources is a Singapore-based palm oil plantation company. Smart is a palm-based consumer company in Jakarta, Indonesia.

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