<article><p style="text-align: justify;">State-owned Indonesian construction firm PT Hutama Karya plans a 5.5 trillion rupiah ($412 million) bond issue in April, aiming to tap into funds being repatriated under the country&#8217;s tax amnesty programme, the finance ministry said on Monday.</p></article>

<p style="text-align: justify;">State-owned Indonesian construction firm PT Hutama Karya plans a 5.5 trillion rupiah ($412 million) bond issue in April, aiming to tap into funds being repatriated under the country&#8217;s tax amnesty programme, the finance ministry said on Monday.</p>
<p style="text-align: justify;">The government will guarantee the bonds and the finance ministry said investors buying them would help support government efforts to accelerate infrastructure development in Indonesia.</p>
<p style="text-align: justify;">Hutama Karya has met with bankers, fund managers and traders to promote investment in the bonds, the ministry said in a statement.</p>
<p style="text-align: justify;">The company is building a toll road connecting major cities on the Indonesian island of Sumatra, in a project worth 82 trillion rupiah.</p>
<p style="text-align: justify;">The tax amnesty, which started last July and runs until March, aims to provide the government with billions of dollars in revenue to help cover a large fiscal deficit.</p>
<p style="text-align: justify;">Participants, including some of Indonesia&#8217;s wealthiest citizens, have pledged to transfer back home 141 trillion rupiah of funds they previously kept offshore, according to data from the finance ministry.</p>
<p style="text-align: justify;">Assets brought home must be kept in Indonesia for three years.</p>
<h4 style="text-align: justify;"><em>Reuters</em></h4>


State-owned Indonesian construction firm PT Hutama Karya plans a 5.5 trillion rupiah ($412 million) bond issue in April.

Indonesian construction firm Hutama Karya plans $412m bond issue

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Indonesian construction firm Hutama Karya plans $412m bond issue

Start your deal-making journey now!

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief