JAKARTA: PT Adhi Karya Tbk will allocate 33.33% proceed of bond issue for first stage to develop business by focusing on other sectors.
Corporate Secretary of Adhi Karya Kurnadi Gularso revealed the property developer will issue bond for first stage valued by IDR750 billion of total would-be issued bond at IDR1.5 trillion.
Of the total expected proceed, IDR500 billion will be benefited to refinance bond and sukuk maturing on July 6 2012.
PT Kustodian Sentral Efek Indonesia (KSEI)’s data showed Bond IV Adhi 2007 maturing in mid of this year is valued by IDR375 billion, while Islamic-principal-based Sukuk I Adhi 2007 by IDR125 billion.
Meanwhile, the remaining proceed of IDR250 billion will be disbursed to develop its business by focusing on property and real estate sectors in this year. (t01/aph)