The 10-year senior unsecured bonds had their coupon fixed at 4.875% and showed that domestic Indonesian companies could raise funds in the global markets, company officials were quoted as saying. ANZ, Credit Suisse and Standard Chartered Bank acted as joint lead managers, while BNI Securities and Mitsubishi UFJ Financial Group were appointed as co-managers.
Pelindo III plans to use the proceeds from the bond sale to help refinance some of its loans, for fund expansion plans and general corporate spending.
Pelindo III corporate secretary Yon Irawan said the company has budgeted $325m to continue the expansion of Teluk Lamong port in Surabaya and part of the funding will come from the bond's proceeds. Among the developments in the port include adding a bulk carrier terminal and an automated container transport.
Pelindo III operates 40 ports in east and central Indonesia, in the provinces of East Java, Central Java, Bali, South Kalimantan, Central Kalimantan, East Nusa Tenggara and West Nusa Tenggara.
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