Indonesia's Danareska plans 500 million rupiah three-tranche bond issue

By Aaron Hochman-Zimmerman

New York, May 13 - PT Danareska (A/A-, local) announced a 500 million rupiah bond issue, according to a market source.

A 200 million rupiah tranche will have a maturity of two years.

A 100 million rupiah tranche will have a maturity of three years.

And a 200 million rupiah tranche will have a maturity of five years.

PT Danareksa Sekuritas, PT Bahana Securities and PT Mandiri Sekuritas will act as bookrunners for the deal.

Approximately 80% of the proceeds will be used to refinance existing debt, while 20% will be used for working capital.

PT Danareska is a state-owned investment company.

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