PT Bakrieland Development Tbk (ELTY) through its subsidiary, BLD Investments Pte Ltd has increased its value of conversion emission bonds

PT Bakrieland Development Tbk (ELTY) through its subsidiary, BLD Investments Pte Ltd has increased its value of conversion emission bonds to US$155 million from the previous US$150 million.

However, Bakrieland will not entirely meet the investors’ demand because the company’s actual need is only about US$150 million.

The bonds will be issued under the value of 100 percent out of the core value of 8.625 percent.

The private conversion bond placement will be closed on Tuesday, March 23. “After the closing, we’ll figure out which investors are interested”.

Proceeds from the private placement will be used for general corporate funding, including working capital. The liabilities include the ones owed from subsidiaries and the equity swap.