Indonesia's Salim Ivomas Pratama to sell Rp 1 trillion five-year bonds, Rp 250 million sukuk ijarah

By Angela McDaniels

Tacoma, Wash., Oct. 28 - PT Salim Ivomas Pratama plans to price Rp 1 trillion of five-year fixed-rate bonds and Rp 250 million of five-year Islamic lease-based bonds, or sukuk ijarah, according to a company announcement.

The bonds will be offered at par and will be callable after one year.

The joint lead underwriters are PT Danareksa Sekuritas, PT CIMB Securities Indonesia, PT Kim Eng Securities, PT Mandiri Sekuritas and PT OSK Nusadana Securities Indonesia.

The initial offering period is expected to run from Oct. 28 through Nov. 11, and the settlement date is slated for Nov. 26.

The bonds have been rated AA- by PT Pemeringkat Efek Indonesia.

Proceeds will be used to refinance the company's bank loans and to pay for transportation services.

Salim Ivomas Pratama is a vertically integrated agribusiness group based in South Jakarta, Indonesia, and a subsidiary of Singapore-based Indofood Agri Resources Ltd.

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