Malindo wins CIMB Niaga's payment guarantee

JAKARTA: PT Malindo Feedmill Tbk gained a commitment to guarantee payment of coupon and principal of bond I/2008 at IDR300 billion from PT Bank CIMB Niaga Tbk.The payment guarantee leads to the upgrade of bonds rating in accordance with the guarantees
News Editor | 09 Desember 2010 12:48 WIB

JAKARTA: PT Malindo Feedmill Tbk gained a commitment to guarantee payment of coupon and principal of bond I/2008 at IDR300 billion from PT Bank CIMB Niaga Tbk.The payment guarantee leads to the upgrade of bonds rating in accordance with the guarantees rating.That has been set from the beginning. With CIMB Niaga's full guarantee, the bonds rating will will tail the banks rating which is higher than Malindos, so the bonds interest rate could be lower, Rudy told Bisnis, yesterday.Peningkatan peringkat dilakukan PT Pemeringkat Efek Indonesia (Pefindo) kepada obligasi perseroan awal pekan ini dari level idAA- menjadi idAA+.Early this week, PT Pemeringkat Efek Indonesia (Pefindo), Indonesia-based rating agency, has upgraded the bonds rating to idAA+ from idAA-.As Rudy added, CIMB Niaga's guarantee has been on the plan to push corporate bond to be determined at 11.8% since it was issued. The bond is due in March 2013.Around 34% of the total proceeds was allocated to acquire an affiliated company, PT Leong Ayamsatu Primadona.Then, its working capital absorbs 18% of the fund, and the other 34% is benefited to construct a new factory in Cikande, Banten, which is expected to operate totally by next year. (T01/NOM)

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Editor : Muhammad Fariz Aulia

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