PT Aneka Tambang Tbk, Indonesia's gold and nickel producer has appointed three underwriters to handle the first stage bond issuance, valuing IDR1.3 trillion (US$150 million) in November this year.
Those three underwriters are Deutsche Bank, Standard Chartered Bank and Mandiri Sekuritas.
According to the plan, the bond values US$150 million and happens to be the first stage of Antam’s series of bond issuance process that is worth to US$350 million in total.
Bank Mandiri consortium consists of Goldman Sachs, Deutsche Bank, Bank Rakyat Indonesia, Sumitomo Mitsui Banking Corporation and Standard Chartered Bank.
The proceeds will be used to fund Feronikel Halmahera project (FeNi Halmahera). The company is scheduled to hold road show to several countries in the second half this year.
The above mentioned project is Antam’s strategic project as it is exploited to raise its nickel reserves. This project will have 27,000 ton nickel output capacity in ferronickel. The financing costs US$1 billion excluding the power generator construction of PT Perusahaan Listrik Negara (PLN).
The state controlled nickel producer plans to hold groundbreaking project in the end of this year while the commercial activities is expected to begin in the end of 2014.Antam will fund US$1 billion where US$350 million will be derived from bonds issuance and US$650 million is generated from project financing scheme. In the meantime PLN will finance US$600 million to construct 260 megawatt power generator.
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