Inalum Ready to Pay Off Divestment of Freeport Shares
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Publish Bonds on the Singapore Exchange
The process of divesting PT Freeport Indonesia (PTFI) shares has entered the final stage. PT Indonesia Asahan Aluminum (Inalum) is ready to pay for the divestment through the issuance of global bonds on the Singapore exchange.
Inalum President Director Budi Gunadi Sadikin said that his party was ready to make payments after the Ministry of Energy and Mineral Resources (ESDM) issued a permanent IUPK (special mining business permit) to PT Freeport Indonesia
"Freeport and ESDM need discussion to settle business between them. When it's finished, we pay him yesterday (11/16).
The global bond also automatically invalidates Inalum's intention to obtain divestment funding from foreign banking syndications. Inalum received funding from the issuance of global bonds worth USD 4 billion. That number exceeds the company's need to acquire shares of the world's second largest mining company worth USD 3.85 billion.
"The request is oversubscribed. The good bond is the interest fix. For banks, the interest depends on LIBOR, "he said,
At present the trend of the LIBOR (London Interbank Offered Rate) has risen. In addition, global bonds are better for the company's cash flow. Because, bank loans require principal installments every six months or every year. If in the form of bonds, the principal is paid at the end.
"This is the biggest bond in Indonesia. In the world number 6 for mining in the last 10 years," said Budi.
Inalum estimates that the company's profit this year can penetrate IDR 10 trillion. During the first semester, the company managed to get a profit of Rp. 5.4 Trillion. He stated, the loan also adds to Inalum's assets.
"Our assets were originally Rp. 100 trillion, but last night it increased to Rp. 160 trillion because the debt was calculated," he added.
PTFI Spokesman Riza Pratama said, currently discussions on environmental issues between PTFI and the government continue.
"The negotiation process with the government, as I informed earlier. Consists of five points, divestment, increased revenue smelter state, investment stability, continuity of operations until 2041. Everything is settled in one transaction "he added.
Previously, Inalum signed a sales purchase agreement with Freeport McMoran to complete the process of acquiring 51 percent of PTFI's shares.
IN INDONESIAN
Inalum Siap Lunasi Divestasi Saham Freeport
Terbitkan Obligasi di Bursa Singapura
Proses divestasi saham PT Freeport Indonesia (PTFI) telah memasuki tahap akhir. PT Indonesia Asahan Aluminium (Inalum) siap membayar divestasi tersebut melalui penerbitan obligasi global di bursa Singapura.
Direktur Utama Inalum Budi Gunadi Sadikin mengatakan, pihaknya siap melakukan pembayaran setelah Kementerian Energi dan Sumber Daya Mineral (ESDM) mengeluarkan IUPK (izin usaha pertambangan khusus) permanen kepada PT Freeport Indonesia.
"Freeport dan ESDM perlu diskusi untuk menyelesaikan urusan antar mereka. Kalau sudah selesai, kita bayar ujarnya kemarin (16/ 11).
Adanya global bond pun otomatis menggugurkan niat Inalum untuk memperoleh pendanaan divestasi dari sindikasi perbankan asing. Inalum memperoleh pendanaan dari penerbitan obligasi global senilai USD 4 miliar. Angka itu melebihi kebutuhan perseroan untuk akuisisi saham perusahaan tambang terbesar kedua di dunia tersebut senilai USD 3,85 miliar.
”Permintaannya oversubscribe. Bagusnya bond itu kan bunganya fix. Kalau perbankan, bunganya tergantung LIBOR,” ungkapnya.
Saat ini tren LIBOR (London Interbank Offered Rate) naik. Selain itu, global bond lebih bagus bagi arus kas perusahaan. Sebab, pinjaman perbankan mewajibkan cicilan pokok setiap enam bulan atau setiap tahun. Jika dalam bentuk obligasi, pokoknya dibayar di akhir.
"Ini bond terbesar di Indonesia. Di dunia nomor 6 untuk tambang dalam 10 tahun terakhir," kata Budi.
Inalum memperkirakan laba perseroan tahun ini bisa menembus Rp 10 Triliun. Selama semester pertama, perseroan berhasil mendapat laba Rp 5,4 Triliun. Dia menyatakan, pinjaman tersebut juga menambah aset Inalum.
”Aset kami awalnya Rp 100 triliun, tetapi kemarin malam bertambah jadi Rp 160 triliun karena utangnya dihitung masuk," imbuhnya.
Juru Bicara PTFI Riza Pratama mengatakan, saat ini pembahasan mengenai persoalan lingkungan antara PTFI dan pemerintah terus berlangsung.
"Proses negosiasi dengan pemerintah seperti yang saya infokan sebelumnya. Terdiri atas lima pokok, divestasi, smelter peningkatan penerimaan negara, stabilitas investasi, kelangsungan operasi sampai 2041. Semuanya diselesaikan dalam satu transaksi" imbuhnya.
Sebelumnya, Inalum menandatangani perjanjian SPA (sales purchase agreement) dengan Freeport McMoran untuk menuntaskan proses akuisisi 51 persen saham PTFI.
Jawa Pos, Page-5, Saturday, Nov 17, 2018
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