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Thursday July 10, 1:23 PMIndonesian Cos Postpone $US1.5 BLN Bond Issue PlansJAKARTA, July 10 Asia Pulse - A number of Indonesian companies have postponed plans to issue bonds valued at Rp13.6 trillion (US$1.5 billion) as the market is not conducive with investors demanding high coupon rates of up to 14 per cent.Bond market is not favorable marked with a higher demand for yield of up to 13 per cent as against only 9.10 per cent in January, the newspaper Investor Daily said. There are 13 companies canceling or postponing plans to issue bonds including state-owned cement maker PT Semen Gresik, food giant PT Indofood Sukses Makmur, the country's largest lender Bank Mandiri and Bank Danamon. A number of other companies such as industrial gas producer PT Aneka Gas Industri and property company PT Summarecon Agung decided to go ahead with plan to issue bonds but in smaller amounts that originally planned. (ANTARA) |
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