Indonesian property developer PT Modernland Realty Tbk plans to buy back $150 million in bonds due in 2016 and will issue $150 million worth new global bonds to finance the purchase, said Investor Relation Officer Cuncun Wijaya.
The company said it would spend 1.3 trillion rupiah ($111 million) this year to acquire 1,000 hectares of land. (Investor Daily)
Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 11,710.00 rupiah) (Compiled by Jakarta Newsroom; Editing by Subhranshu Sahu)