Fertilizer firm Pupuk Indonesia to issue $735.3m in bonds

Photo by Minister of SOEs

PT Pupuk Indonesia Holding Company (PIHC), a state owned fertilizer company is planning to raise Rp10 trillion ($735.29 million) by issuing bonds in the first quarter of 2017. A part of proceeds will be used to refinance the company’s debts.

Also Read: Indonesia’s Pertamina eyes majority stake in EPC firm Rekind

The other portion of the proceeds will be used to revitalise two of its fertilizer plants to increase their output in order to meet domestic demand, which is estimated to reach 9.55 million tons this year.

According to Finance Director Indarto Pamoengkas, the company has earned a rating of ‘AAA’ by Fitch Ratings and now seeks another rating from PEFINDO and Standard & Poor’s.

Pamoengkas added that Kaltim V needs $590 million while Pusri II fertilizer plant will need $580 million – of investment.

Pupuk Indonesia also plans to develop Amorea 2 plant in East Java with total investment of $500 million. Work for on all the plants are expected to be completed by 2017.

Currently, Pupuk Indonesia  produces 14 million tons of fertilizers per annum and expects to raise this to 19 million tons per year by 2017. The company is hoping to post a net profit of Rp5 trillion and Rp80 trillion in revenues this year, compared to net profit of Rp3.3 trillion  and revenues of Rp66 trillion in 2015.

Also Read: Indonesia state firms to invest $24.96b in infrastructure projects in 2016

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.