Antam mulls bond issue to finance FeNi III project
Monday, May 12 2003 - 07:42 PM WIB
JSX-listed state miner PT. Aneka Tambang Tbk. said Monday it is weighing the option of issuing corporate bonds to partly finance its FeNi III nickel expansion in South East Sulawesi and may do so if the market conditions warrant.
?Bond issuance is an option beside loan commitment from Bank Mandiri. We need to find optimum financing mixture,? said the company president Dedi Aditya Sumanegara on a sideline of parliamentary hearing.
Antam reportedly has cancelled Euro denominated loan and switch to domestic funding, while downsizing the project size from US$ 380 million to $230 by concentrating on smelter development and have third party to develop the power plant.
Antam said in earlier release that Bank Mandiri had readied up to US$ 150 million in loan, with corporate equity providing USD80 million. (godang)