Indonesia state airport operator to raise $151m via bond issue

Photo by AP II

Indonesia’s state-owned airport operator PT Angkasa Pura II plans to issue local currency denominated bonds to raise up to Rp2 trillion ($151.52 million) in June.

The bond tenor is set at 5, 7, and 10 years while the coupon will be determined later.

PT Danareksa Sekuritas and PT Mandiri Sekuritas are the joint lead underwriters for the issue.

President Director of AP II Budi Karya Sumadi said, the bond issue proceeds will help meet capital expenditure requirements for the development of airports, especially Soekarno-Hatta International Airport.

This year, AP II has proposed a capital expenditure of up to Rp10 trillion.

AP II plans to develop a new airport across the archipelago at a total investment up to Rp60.1 trillion. The Soekarno Hatta International Airport at Tangerang province has a project allocation of Rp41 trillion for new terminal building projects. Terminal 3 Ultimate, as it is called, is expected to be fully operational by December 2016. It will have an area of 331.101 square meters and can accommodate the movement of as many as 25 million passengers per year.

To finance these projects, AP II will raise loans from Bank Mandiri, Bank Rakyat Indonesia and Bank Negara Indonesia to the extent of Rp2.1 trillion.

Currently the company manages 13 airports across the country.

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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.