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Barito Pacific will issue bonds for refinancing

26 November 2019 08:37

JAKARTA. PT Barito Pacific Tbk (BRPT) will issue shelf registration bonds (PUB) with a total value of Rp 1.5 trillion, to improve its debt profile.

In the first stage, BRPT issued series A bonds, with a total value of 750 billion, 3-year tenor and coupons of 9% to 9.75% per year. The company will also issue series B bonds with a 5-year tenor and coupons of 9.25% to 10%. 

Agus Salim Pangestu, President Director of BRPT, said that the issuance of bonds in foreign currencies could reduce the risk of loss from the dollar exchange rate against rupiah. "We see our partners like Siam Cement, most of their funding comes from domestic currencies," Pangestu said as reported by Kontan on Tuesday (26/11) today.

Pangestu stressed that the issuance of the bond had also taken into account the company's leverage, which was still at a safe level. In addition, said Pangestu, BRPT has no maturing debt until the end of this year. (KR/AR)

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