Semen Gresik Plans To Issue US$300M bonds

Semen Gresik Plans To Issue US$300M bonds
13 August 2007

PT Semen Gresik is planning to issue US$300 million of bonds overseas during the fourth quarter of the year to help finance this year’s investment, a banker familiar with the plan said Monday.

Indonesia’s largest cement producer by output has named JP Morgan to underwrite the planned bonds, which are likely to have a tenor of between five and seven years, the banker told Dow Jones Newswires.

He didn’t provider further details of the plan, adding that the company and JP Morgan expect the current turmoil in the global financial markets to completely subside by the time they enter the market.

Published under Cement News