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.
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.
Currently the company manages 13 airports across the country.
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