By Cady Vishniac
Detroit, Dec. 30 – Singapore’s Samko Timber Ltd. placed $3 million and Rp 30 billion of medium-term notes due July 24, 2023 through subsidiary PT Alam Raya Makmur, according to a notice.
The buyers were Indonesian individual and corporate investors.
The dollar notes will pay 8.5% annualized interest on a quarterly basis, and the Indonesian rupiah notes will pay 13%.
The sole selling agent was PT Pacific 2000 Sekuritas.
Proceeds will go toward working capital for Samko, which has also taken out $6 million and Rp 150 billion of term loans through another subsidiary.
Singapore-based Samko Timber produces processed timber products. Its Alam Raya Makmur subsidiary markets and sells plywood and other wood products.
| Issuer: | PT Alam Raya Makmur
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| Issue: | Notes
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| Maturity: | July 24, 2023
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| Agent: | PT Pacific 2000 Sekuritas
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| Announcement date: | Dec. 28
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| Dollar notes
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| Amount: | $3 million
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| Coupon: | 8.5%
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| Indonesian Rupiah notes
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| Amount: | Rp 30 billion
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| Coupon: | 13%
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