Pupuk Kaltim Postpones US$150 Million Bonds

Indonesia's largest urea producer PT Pupuk Kaltim has cancelled the plan to sell US$150 million bonds or IDR1.38 trillion amid the unfavorable market.
The President Commissioner of Pupuk Kaltim Muhammad Said Didu said the company should seek other financing like export credit and bank loans.
Last year the company planned to sell IDR600 billion bonds to refinance its maturing bonds. But finally the company repaid the bonds using its internal cash reserve.