JAKARTA--The bond issuance of PT Global Mediacom Tbk valued at IDR1.25 trillion is expected to be overrun by investors because it provides an attractive premium.
The first time bond issuance for the holding of MNC Group is divided into two series, namely a 3-year tenor A Series with a coupon range of 8.5% -9.75% and B Series with 5-year tenor and a coupon range of 9.25% -10.5%.
The bond was ranked at idA + by PT Pemeringkat Efek Indonesia (Pefindo/Indonesia Rating Agency).
The bonds are secured by shares of PT Media Nusantara Citra Tbk (MNC) of 125% from the principal amount of bonds with top-up and top down mechanism.
Bond analyst PT Nusantara Capital Securities I Made Adi Saputra believed the bond is worth to be collected considering the company offered attractive coupon coupled with a guarantee of MNC shares.
"With idA + rank and the attractive bond structure as well as the issuer which is not focusing on banking and financial sector, I expect investors’ interest will be high enough," he said Wednesday (20/6/2012).(T03/aph)