Antam cancels Rp 1T bond plan

By Bambang Atmaja

IDX-listed mining company PT Aneka Tambang Tbk (Antam) has decided to cancel an earlier plan to issue Rp 1 trillion worth of bonds this year as the financial market condition is deemed to be not conducive, Corporate Secretary Tri Hartono said.

Tri told Petromindo.com Wednesday that despite the cancelation, the company?s ferronickel plant project in Pomalaa, South Sulawesi, would not be affected as it has obtained funds worth Rp 3 trillion from a series of bond issues launched since 2012.

?The (planned) issuance of the Rp l trillion bonds this year has been aborted because the market is not conducive,? he said via phone. ?But it does not hamper financing of our project in Pomalaa because we still have some of funds from bonds that we have already issued totally worth Rp3 trillion,? he said.

Tri said that the firm would watch closely the condition of the bonds market next year and plans to issue the bonds should the market condition turns conducive.

Editing by Reiner Simanjuntak