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Indonesia’s Bumi Serpong talks $250 million five-year notes at 7% area
By Christine Van Dusen
Atlanta, April 20 – Indonesia’s PT Bumi Serpong Damai Tbk. set talk in the 7% area for a $250 million offering of five-year notes (expected ratings: Ba3//BB-), a market source said.
Citigroup and UBS are the bookrunners for the Regulation S notes, which will be non-callable for three years.
The proceeds will be used for the development of new investment properties and infrastructure, for land bank acquisitions and for general corporate purposes.
Bumi Serpong Damai is a privately developed planned community in the Tangerang District of the greater Jakarta region in Indonesia.
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