Timah plans to issue bonds
Monday, May 1 2017 - 05:25 AM WIB
IDX-listed tin giant PT Timah Tbk plans to raise funds via the bond market this year in a bid to help finance expansion programs.
Timah Finance Director Emil Emindra said Friday that the company was planning to issue bonds in September of this year.
He said the exact size of the planned bond issue has yet to be decided, but the company still have room to raise up to Rp 5 trillion from new debts.
Timah this year plans to spend Rp 2.6 trillion for investment, the funding requirement of which has been fulfilled via internal cash and bank loans.
The company, however, needs more funds for future expansion programs including for purchasing new equipment to expand production capacity and finance exploration activities, Emil said.
Editing by Reiner Simanjuntak