PTBA seeks new borrowings
Friday, October 20 2017 - 01:38 AM WIB
IDX-listed coal and energy company PT Bukit Asam Tbk (PTBA) will seek new borrowings including from banks and the global bond market to help finance the construction of three huge coal-fired power plant projects.
This was revealed by PTBA Finance Director Orias Petrus Moedak on Thursday.
He said that the three projects include the 2x600 MW Sumsel-8 mine mouth coal-fired power plant project in South Sumatra; the 2x300 MW Sumsel-6 mine mouth coal-fired power plant project, also in South Sumatra; and the 2x300 MW coal-fired power plant project in Peranap, Indragiri Hulu Regency, Riau Province.
Total investment for the three projects, to be developed with a number of partners, is estimated at around US$4 billion. PTBA?s investment portion is around $600 million, or about Rp 8 trillion.
The company currently holds around Rp 3 trillion worth of cash, which means it would have to raise at least around Rp 5 trillion via banks or bond market.
Orias said that PTBA was looking to issue the so-called Komodo Bond, a rupiah-denominated bonds issued in the international market. (*)