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8/21/11

Bakrie & Brothers Bond $ 1 Billion to Pay Debt?

Jakarta - PT Bakrie & Brothers Tbk (BNBR) intends to issue analias debt bonds worth Rp 1 trillion at the end of 2011. Bondsused to refinance (refinance) debt of U.S. $ 600 million to CreditSuisse, which will mature in March 2012.


This was conveyed by the Director of Finance BNBR SoeparnoEddy, Bakrie Tower, Jalan HR Rasuna Said, Jakarta, Friday(08/20/2011) night.

"We have a plan, hopefully at the end of the year. The value of theminimum direct baseball Rp 1 trillion. We're doing the rating toPefindo," explains Eddy.

Issuance of bonds to be part of the Bakrie & Brothers debtrefinancing of U.S. $ 600 million which will expire early next year.This means the bond company mengkandaskan previousintention to issue global bonds.

Bond structure, continued Eddy, has a duration of three time. But he has not reached appoint underwriters (underwriter) bond. "Not until there. But if it could be published later this year," he said.

In addition to issuing bonds, Bakrie & Brothers also continuingdebt to asset settlement to cover the medium of structured notes(MSN) remaining. Until the first half of the company has madesettlement of debt to assets of Rp 1.2 trillion from Rp 3.2 trilliontotal.

"The rest will be our settlement in the third quarter of this with one hand. The assets are divided into several subsidiary companies.Kinds there Bakrie Telecom Bakrie Sumatera Plantation, and others. Every creditor has a disparate," said Eddy.

MSN repayment through debt to asset settlement, made ​​before the due date in January 2012. The ability of some Rp 1.2 trillionsettlement, the company's interest to get Forgiveness Rp 362billion.

"Because it's buyback before maturity on January 20, 2012, so there are pieces of flowers and recorded as revenue," he said.
Source: detik.com
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