Indonesia’s Bumi Serpong Damai scraps remainder of bond program

By Marisa Wong

Madison, Wis., June 24 – PT Bumi Serpong Damai Tbk. has decided not to issue the remaining bonds under its registered bond program due to the high market price on the bonds’ coupon, according to a company notice.

The company had registered in June 2012 to issue Rp 3 trillion of bonds within two years. The company already issued Rp 1 trillion of phase I year 2012 bonds in three tranches and Rp 1.75 trillion of phase II year 2013 bonds in a single tranche.

The un-issued amount of registered bonds is Rp 250 billion.

Bumi Serpong Damai is a privately developed planned community in the Tangerang District of the greater Jakarta region in Indonesia.

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