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Saturday, November 28, 2009

Telkom selecting 6 securities, related to their plans to issue IDR2 trillion bonds

as published in Bisnis Indonesia daily newspaper
Saturday, 28/11/2009 00:00 WIB
Telkom selecting 6 securities
It plans to issue IDR2 trillion bonds

JAKARTA: PT Telekomunikasi Indonesia (Telkom) Tbk has been conducting beauty contest to six securities as candidates for underwriter of IDR2 trillion bond issuance.

Some informed Bisnis resources said the emitter has done the selection process with six potential securities companies to become underwriter of bond issuance here.

“The invited securities companies include four state securities firms and two private ones two weeks ago,” said one of the resources this week.

Other resource said the state firms invited here include PT Danareksa Sekuritas, PT Mandiri Sekuritas, PT Bahana Securities, and PT BNI Securities.

The private firms potentially taking parts in the bond issuance here include PT Trimegah Securities Tbk and PT Andalan Artha Advisindo Sekuritas (AAA Securities).

Besides, the bond is possibly be included in sharia financing scheme. “So, the would be issued securities will likely be sharia bonds.”

Finance Director of Telkom Sudiro Asno conceded the company has been conducting a beauty contest.

But he could not provide details on the number and name of the invited securities companies.

Next year Telkom plans to seek external funding to cover 40 percent next year capital expenditure worth US$2 billion or IDR20 trillions. The state firm here prepares the issuance scheme of IDR2-3 trillion bonds in semester I/2009.

Director of BNI Securities Jimmy Nyo, President Director of AAA Securities Th. Andri Rukminto and Director Trimegah Securities Desimon admitted the request for beauty contest but they could barely confirm the amount of issuance due to early process.

Telkom this year is proven to have absorbed the vendor financing facility worth US$60 million or IDR600 billion from two overseas firms.

Sudiro said the company has got commitment for vendor financing totally worth US$400 million from two firms. Huawei provides US$300 million financing and ZTE US$100 million.

“We have so far spent some US$60 million noting that the absorption depends on the needs,” he said to press after working meeting with the Parliament’s Commission XI last Thursday.

Vendor financing is one of corporate strategies to cover capital expenditure this year worth about IDR17 trillion. The other funding option is bonds and bank loan. (21/Arif Gunawan S.) (redaksi@ bisnis.co.id)

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