Antam may issue $150m bond in 3Q<\/p>\n
JAKARTA: Indonesia's state-owned gold and nickel miner PT Aneka
\nTambang (Antam) may issue US$150 million in bonds in the third
\nquarter to help finance a new ferronickel smelter project, an
\nofficial with the company said over the weekend.<\/p>\n
Company President Director Dedi Aditya Sumanegara told
\nreporters that it's in the process of selecting underwriters for
\nthe proposed issue, which is expected to be listed overseas.
\nThe bond, however, is still awaiting approval from the company's
\nboard of commissioners.<\/p>\n
He said several investment bankers, such as UBS Warburg,
\nCredit Suisse First Boston, and Citicorp, are seeking to
\nunderwrite the issue.<\/p>\n
Antam is exploring new ways to raise funds to finance the
\nconstruction of its third ferronickel plant in South Sulawesi.
\nThe company is mulling whether to cancel its plan to borrow $255
\nmillion from a German export credit agency.<\/p>\n
Antam can only tap such a loan if it hires German companies to
\ndevelop the project. But the euro's recent rise against the
\ndollar makes it unviable for Antam to use the loan as it would
\nhave to pay the German companies in euros.<\/p>\n
Antam is 65 percent owned by the Indonesian government and is
\nlisted on both the Jakarta and Australian Stock Exchanges. --DJ<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/antam-may-issue-150m-bond-in-3q-1447893297",
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