PT Citatah to Issue Convertible Bonds
www.tempointeraktif.com, 2004-09-27
Marble company PT Citatah Tbk plans to issue convertible bonds worth US$ 4 million that matures in 5 years. The bonds are to be issued in early 2005. The fund will be used to repair mining equipment (US$ 1 million) and also support production and sales (US$ 3 million). Citatah underwent a shortage of work capital to improve mining activities. Per June 2004, the company booked Rp 34.9 billion in sales, which was lower that the Rp 45.1 billion obtained during the same period in 2003. This semester, the company booked a loss of Rp 23.1 billion.