Singapore's Indofood subsidiary picks agents for Rp 1 trillion issue

By Angela McDaniels

Tacoma, Wash., July 30 - Indofood Agri Resources Ltd.'s 90% owned subsidiary, PT Salim Ivomas Pratama, has selected underwriters for its proposed Rp 1 trillion issue of bonds, according to a company announcement.

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

The company announced plans for the offering on July 13.

If it 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. Its principal activities are oil palm seed breeding, oil palm plantation cultivation, producing and refining crude palm oil and crude coconut oil, cultivating rubber plantations and marketing and selling these end products.

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