15
Mar
10:52
Indonesia's Spindo issues bonds to fight debt costs
Steel Pipe Industry of Indonesia (Spindo) plans to issue $250 million in bonds as it reorganises its debt. The company saw its total liabilities jump 13.87% year-on-year to IDR 5.95 trillion ($445 million) at the end of September 2016, Kallanish notes.
The $250m of notes will be listed on the Singapore Exchange with a fixed 10% coupon and a five-year term. “Proceeds from the bond will be used for debt repayment, expansion, and general working capital,&rdqu…
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