REPUBLIKA.CO.ID, JAKARTA -- Publicly traded property company PT Greenwood Sejahtera (GWSA) said it would issue a fie-year bonds valued at Rp500 billion to raise fund to finance a number of property projects in a number of big cities in the country.

Finance Director of GWSA Bambang Dwi Yanto said the bonds would part of its public offerings to raise Rp1.5 trillion in 2014.

The bond would carry a coupon rates of around 13-14.25 percent a year in proportion with the company's rating of BBB+ (triple B plus), Bambang said here on Thursday.

The coupon rate is relatively high but it has been well calculated taking into account all risks, he said.

He said Rp150 billion of the bond fund would be used to finance construction and operation of TCC Batavia Tower II, Rp350 billion to finance the expansion of the company property industry.

Hadi Pranggono, the vice president of Investment Banking of Samuel Sekuritas Indonesia as the underwriter of the bond said local investors would be given the priority to buy the bonds.

Offering would be held from Dec 17 through 20.

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