JAKARTA - Mining State Owned Enterprise (BUMN) holding, PT Indonesia Asahan Alumunium (Inalum) has successfully issued bond instruments in the form of US dollars or Global Bonds.
Global Bonds issued by Inalum amounting to 2.5 billion US dollars or equivalent to Rp 37.5 trillion (exchange rate of Rp15.00 / US dollar). In issuing these bonds, Inalum offers three investment tenors, namely 5 years, 10 years and 30 years.
Regarding the coupon, for 5 years it is offered with a coupon of 4.75 percent, 10 years is 5.45 percent, and 30 years is offered with a coupon of 5.8 percent. Meanwhile, Inalum previously received a Baa2 rating from Moody's and BBB- from Fitch.
The bonds issuance will later be used for refinancing bonds with maturity of US $ 1 billion, and the rest will be used to finance various strategic projects that will be worked on by the company.
The projects that Inalum will work on include the construction of a Smelter Grade Alumination Refinery in Mempawah with a capacity of 1 million tons per year, the Sumsel 8 Mine Mouth PLTU, a coal gasification plant project into a DME in Tanjung Enim, and so on.
BUMN Minister Erick Thohir appreciated the funding innovations made by BUMN, such as global bonds. He said, the issuance of this debt is proof of the trust of the business world in BUMN and the government.
"With this, it is evident that the international business world still trusts state-owned companies which are now continuously improving in order to increase their competitiveness and become more transparent. And in general, Indonesia under Pak Jokowi's leadership is also still trusted by the international community," said Erick Thohir in an official statement, Jakarta, Tuesday, May 12.
The issuance of this global bond by Inalum complements the issuance of similar debt securities that have been carried out by PT Hutama Karya (Persero) with a value of 600 million US dollars and PT Bank Mandiri (Persero) Tbk worth 500 million US dollars.
Thus in the last two weeks, global bonds that have been issued by SOEs have reached US $ 3.6 billion or equivalent to Rp.54 trillion.
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