JAKARTA. PT Indofood CBP Sukses Makmur Tbk (ICBP) would issue a global bond with a US dollar denomination. The principal amount is yet to be specified. However, the collected fund would be used to pay back the bank loans related to the Pinehill Company Limited acquisition.
The Corporate Secretary of ICBP, Gideon A Putro, mentioned that the company is currently arranging a public offering of a US dollar-denominated bond. This global bond would be offered to investors outside Indonesia. This news is conveyed through the information disclosure in Indonesia Stock Exchange, Wednesday (26/5).
Putro said that the net result from this global bond public offering would be allocated to finance the repayment of bank loans regarding the Pinehill Company Limited acquisition.
The company has received a Baa3 rating from Moody’s Investor Service and a BBB- rating from Fitch Ratings.
ICBP has also appointed the joint book-runners. They are UBS AG, Singapore Branch; Deutsche Bank AG, Singapore Branch; Mizuho Securities (Singapore) Pte. Ltd., SMBC Nikko Capital Market Limited; and Mandiri Securities Pte. Ltd.
By the end of August 2020, ICBP completed the transaction process regarding the acquisition of the entire issued shares of Pinehill Company Limited. (AM/ZH)