Indonesia Digest: State bank BNI, port operator Pelindo IV to issue bonds

Photo: REUTERS/Garry Lotulung

Indonesia’s state-owned bank BNI and port operator Pelindo IV are seeking to finance expansion projects by issuing multi-million-dollar bonds, according to news agency Antara.

Bank Negara Indonesia to release $150m bonds

Indonesian state-owned bank Bank Negara Indonesia (BNI) said it will release convertible bonds worth Rp2 trillion ($150 million) in the second half of 2018 to strengthen its capital and mitigate systemic impact in the event of an economic crisis.

Additionally, the convertible bond will also be used in anticipation of the bank’s funding needs for infrastructure financing, according to BNI Finance Director Rico Rizal Budidarmo.

BNI is the fourth largest bank by assets in Indonesia. As a bond issuer, the bank collected assets of around Rp700 trillion by the end of last year.

Pelindo IV eyes $375m bonds for new port development

State port operator PT Pelabuhan Indonesia IV (Pelindo IV) announced plans to issue bonds worth about Rp5 trillion ($375 million) to finance a new port project development.

The bond issuance will finance the acceleration of Makassar New Port (MNP) development, which has now reached 58 per cent, according to the Antara report.

The port project is one of the national strategic projects of President Joko Widodo’s flagship government in eastern Indonesia.

In addition to MNP, Pelindo IV is also increasing the capacity of Bitung Container Terminal, as an international hub port, and Kendari New Port.

Also Read:

Indonesian lender BNI mulls setting up VC arm, investing in fintech

Three more Indonesian state firms eye Komodo bond issuance this year

Singapore Reporter/s

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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.