Inalum Can Be Burdened by Global Bond Interest
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Asahan Aluminum (Inalum) wants to immediately complete the process of acquiring 51.20% of the shares of PT Freeport Indonesia (Freeport). Because, if the transaction is not immediately completed until June 2019, the lnalum will be exposed to global bond interest expense of 5.9%. Inalum's interest comes from global bonds which they previously released worth US $ 4 billion.
PT Asahan Aluminum (Inalum)
Finance Director of PT Inalum, Orias Petruk Moedak, explained that Lnalum would use funds worth US $ 3.85 billion to pay for the acquisition of Freeport shares. As per commitment, the funds can only be used until June next year.
"We promise in the prospectus, no later than June next year (acquisition) is complete. If not, the money must be returned and must pay interest for six months, which is 5.9%. So that the loss if (transaction) does not happen, "he said when met at Pacific Place, Jakarta, Monday (10/12).
Pacific Place, Jakarta
Orias said that the global bond funds could only be used to buy Freeport shares and could not be transferred to other financing. If US $ 3.85 billion is successfully used for the acquisition of Freeport, the lnalum may use the remaining US $ 150 million for other needs.
Inalum buy Freeport shares US $ 3.85 billion
After the divestment process of Freeport shares is completed, Orias said that the lnalum is preparing a long-term expansion plan with Freeport. However, lnalum management is still reluctant to disclose in detail the contents of the investment plan.
To be sure, one of the long-term investment plans up to 2041 is on undergorund mining.
undergorund Gold mining
"The details will be after completion (transaction). There are many, one of which is underground mining, "said Orias.
Inalum President Director Budi Gunadi Sadikin
Regarding the divestment of Freeport shares, the lnalum has obtained an anti-trust filing from Freeport Indonesia's export destination countries. Inalum President Director Budi Gunadi Sadikin revealed that anti-trust permits from Japan, South Korea and China and the Philippines had been obtained.
"Permission has been issued, all has been completed, so it's Clear (for anti-trust)," said Budi.
As a result, lnalum is only waiting for anti-trust licenses from Indonesia that have not been completed. Internal Head of Corporate Commumcations Rendi A. Witoelar said that Indonesia's permit could be completed after the divestment transaction was completed.
IN INDONESIAN
Inalum Bisa Terbebani Bunga Global Bond
Asahan Aluminium (Inalum) ingin segera menyelesaikan proses akuisisi 51,20% saham PT Freeport Indonesia (Freeport). Sebab, jika transaksi tidak segera rampung hingga Juni 2019, maka lnalum akan terkena beban bunga global bond sebesar 5,9%. Beban bunga Inalum berasal dari surat utang global (global bond) yang sebelumnya mereka rilis senilai US$ 4 miliar.
Direktur Keuangan PT Inalum, Orias Petruk Moedak, menjelaskan lnalum akan menggunakan dana senilai US$ 3,85 miliar untuk membayar akuisisi saham Freeport. Sesuai komitmen, dana tersebut hanya bisa dipakai hingga Juni tahun depan.
“Kami menjanjikan di prospektus, paling lambat Juni tahun depan (akuisisi) selesai. Jika tidak, uangnya mesti dikembalikan dan mesti membayar bunga untuk enam bulan, yang sebesar 5,9%. Sehingga rugi jika (transaksi) tidak jadi,” ungkap dia saat ditemui di Pacific Place, Jakarta, Senin (10/12).
Orias menyebutkan, dana obligasi global itu hanya bisa digunakan untuk membeli saham Freeport dan tidak bisa dialihkan ke pembiayaan lain. Apabila dana US$ 3,85 miliar sukses digunakan untuk akuisisi Freeport, lnalum boleh memakai sisa dana US$ 150 juta untuk kebutuhan lain.
Setelah proses divestasi saham Freeport rampung, Orias mengatakan lnalum menyiapkan rencana ekspansi jangka panjang bersama Freeport. Namun, manajemen lnalum masih enggan mengungkapkan secara mendetail isi rencana investasi tersebut.
Yang pasti, salah satu rencana investasi jangka panjang hingga tahun 2041 adalah mengenai penambangan bawah tanah (undergorund mining).
“Detailnya nanti setelah selesai (transaksi). Ada banyak, salah satunya masuk underground mining,” ungkap Orias.
Terkait divestasi saham Freeport, Inalum sudah mendapatkan izin mengenai persaingan usaha (anti trust filing) dari negara tujuan ekspor Freeport Indonesia. Direktur Utama Inalum Budi Gunadi Sadikin mengungkapkan, izin anti trust dari Jepang, Korea Selatan dan China dan Filipina telah berhasil diperoleh.
“Izin sudah keluar, sudah selesai semua, sehingga Clear(untuk anti-trust),” ungkap Budi.
Alhasil, Inalum hanya menunggu perizinan anti-trust dari Indonesia yang belum selesai. Head of Corporate Commumcations lnalum Rendi A. Witoelar bilang, izin Indonesia bisa selesai setelah transaksi divestasi rampung.
Kontan, Page-14, Tuesday, Dec 11, 2018
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