Singapore's Indofood Agri subsidiary may sell Rp 1 trillion of bonds

By Susanna Moon

Chicago, July 13 - Indofood Agri Resources Ltd.'s board of directors said the company's 90% owned subsidiary PT Salim Ivomas Pratama is exploring the possibility of issuing Rp 1 trillion of bonds.

The issue will depend on market conditions, according to a press release.

If the company does go ahead with the offering, proceeds will be used to refinance existing borrowings.

Singapore-based Indofood Agri Resources is a vertically integrated agribusiness group, with its principal activities comprising oil palm seed breeding, cultivation of oil palm plantations, production and refining of crude palm oil and crude coconut oil, cultivation of rubber plantations and marketing and selling these end products.

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