Kedutaan Besar Republik Indonesia
Ottawa
Embassy of the Republic of Indonesia
Ambassade de la RÉpublique d'Indonésie

Pelindo III to issue global bonds worth $1 billion

State-owned port management company PT Pelindo III will issue global bonds worth US$1 billion to fund several development projects, including the construction of the overpass to the Teluk Lamong terminal in Surabaya, the deepening of the Benoa port pond in Denpasar, Bali, and the construction of the Gili Mas quay at the Lembar port in Lombok, West Nusa Tenggara (NTB).

Pelindo III’s president, Ngurah Askhara Dana Diputra, said the company decided to raise its investment funds through bonds issuance because it had canceled the planned initial public offering of its subsidiary, PT Berlian Jasa Terminal Indonesia, Antara reported recently.

Read also: Pelindo III seeks to expand into non-core businesses to boost revenues

Askhara said the new bonds issuance would follow the strategy Pelindo III used when it issued $500 million worth of global bonds in 2014 in cooperation with ANZ, Credit Suisse and Standard Chartered Bank.

However, he declined to elaborate which companies would be appointed as the underwriters for the upcoming bond issue. (srs)