Indonesian defense company PT Pindad has issued a Medium-Term Notes (MTN) worth Rp1 trillion to support its industrial expansion. The Notes will matureĀ in three years. PT Pindad said the funds generated through the issuance would be directed to boost business development projects in both defense and commercial manufacturing sectors. The MTN proceeds will be used for additional working capital as PT Pindad looks to secure contracts from the Indonesian Ministry of Defense and the Indonesian Armed Forces as well as various industrial product contracts.