Jasa Marga to Issue Rupiah Denominated Global Bonds

Thursday, 10 August 2017 , 12:00:00 WIB -

The Semarang-Batang Toll Road Project (ANTARA)

JAKARTA, GRES.NEWS - PT Jasa Marga Tbk (JSMR) is seeking more money to fund its infrastructure projects worth around Rp8 trillion in total. The company will soon issue ruipah-denominated global bonds.

PT Jasa Marga Tbk president director Donny Arsal said the company is studying the plan. "It will be the first time we issue global bonds denominated in the rupiah. Therefore, we have to conduct internal studies first," he said, at the Indonesia Stock Exchange, Jakarta, Tuesday (8/8).

The amount also remains tentative, but the total is estimated to be US$200 milion-US$300 million.

In addition to global bonds, PT Jasa Marga Tbk will also securitize assets by issuing asset backed securities worth around Rp2 trillion, based on projected future revenues.

"The securitization plan is final. We expect the Financial Services Authority (OJK) to issue the permit (or effective statement, red) next week," Donny said. The asset that will be securitized is the Jagorawi (Jakarta-Bogor-Ciawi) Toll Road for the next five years.

The toll road is projected to generate Rp5 trillion in the next five years, but PT Jasa Marga Tbk will only securitize Rp2 trillion.

The company has announced the pan to investors since a month ago and received positive response fro them.

This year, PT Jasa Marga Tbk needs Rp18 trillion to invest. Rp11 trillion will be obtained from subsidiaries and the rest will be provided by the company. (dtc/mag)