Matahari Putra Prima to sell 300 billion rupiah five-year bonds

By Reshmi Basu

New York, March 11 - PT Matahari Putra Prima plans to issue $300 billion rupia ($34.9 million) of five-year bonds, according to a market source.

Up to 100 billion rupiah will be in the form of Islamic bonds.

The Indonesian company said investors will receive quarterly payments based on the company's retail sales. This conforms to Islamic law, which bans interest.

PT Deutsche Securities Indonesia and PT Mandiri Sekuritas are the bookrunners on this issue.

Pricing is expected in April.

Matahari Putra Prima is a Jakarta, Indonesia-based department store and supermarket retailer.

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