VIVA – PT Indonesia Asahan Alumunium or Inalum Mining Industry Holding receives $ 4 billion in funds to pay for the divestiture of PT Freeport Indonesia. The funds come from international bonds or external debt.
Inalum Managing Director Budi Gunadi Sadikin said the fund was introduced to Cash Inalum since last night. Thus, the total assets of Inalum and members detention also increased from Rp100 trillion to Rp160 at present.
"Our assets are Rp100 T (trillion). But last night, at 9 o'clock, it rose to Rp160 T, because the money came, we got cash$ 4 billion last night, "Budi told Indonesia's 2018 Economic Forum in Dharmawangsa Hotel, Jakarta on Friday, November 16, 2018.
He revealed that the bonds were issued on the Singapore Stock Exchange. According to him, bonds are chosen because interest is fixed, so it is different from bank loans whose interest rate tends to be volatile.
"Good bond is interest repair. For banks, interest depends on the market. Well, now the trend of interest is growing. So we are would you like to di-repair correct, "he said
The original plan, Inalum made an international syndicated bank loan and was canceled. Another reason, Budi said, is that if Inalum borrows through syndicated loans from banks, there will be rates every month.
"If you borrow from a bank, there are main rates, every six months or a year. If in the form of bonds, the principal is to pay at the end of the year. cashflow better, "said former Managing Director of Bank Mandiri.
Asked why Inalum originally chose a bank loan? Because it's easier than issuing bonds. "It's easier, bonds (bonds) are very difficult, so it's the biggest one ever proposed by Indonesia," he said.