The Indonesian Central Securities Depository (ICSD) noted the value of corporate bonds maturing in December 2019 reached Rp7.37 trillion (US$526.42 million) from 13 companies - Photo: Special.

JAKARTA (TheInsiderStories) – The Indonesian Central Securities Depository (ICSD) noted the value of corporate bonds maturing in December 2019 reached Rp7.37 trillion (US$526.42 million) from 13 companies. The company is currently preparing a strategy to pay off the maturing bonds.

PT Sarana Multigriya Financial (SMF) Director of Securitization and Financing Heliantopo said SMF has maturity bonds of Rp175 billion on Dec 27, 2019. He asserted, the company already has funds to repay the bonds. “Funds for paying off bonds come from financing payments,” he told InsiderStories on Wednesday (12/04).

Then, Spokesperson of PT AKR Corporindo Tbk (IDX: AKRA) Suresh Vembu said the company has a matured bond of Rp877 billion on Dec 21, 2019. He revealed, his party will pay off the bonds that were due on Dec 21, 2019, with a loan from the bank.

PT Medco Energi Internasional Tbk (IDX: MEDC) also has maturity bonds on Dec 21, 2019, of Rp 246 billion. Medco’s President Director Hilmi Panigoro said the company had prepared payments for bonds that were due in 2019 through the issuance of global bonds in 2018 which reached $500 million.

PT Indosat Tbk (IDX: ISAT) also has maturity bonds worth Rp750 billion on Dec 12, 2019. Indosat Group Head Corporate Secretary Turina Farouq said the company would not issue new debt bonds to replace maturing bonds. Meanwhile, the company chose to pay it off through funds from internal cash and loan facilities that have not been used.

PT Bank OCBC NISP Tbk (IDX: NISP) also has a maturity bond worth Rp175 billion on Dec 12, 2019. Bank OCBC NISP Finance Director Hartanti said the company will not use funds from this year’s bonds to repay maturity bonds. The repayment of bonds will be used from internal funds.

PT Wahana Ottomitra Multiartha Tbk (IDX: WOMF) or WOM Finance has maturity bonds of Rp411.5 billion as of December 30, 2019. WOM Finance Director of Finance Zacharia Susantadiredja said that the company has provided funds to pay off the debt from internal and corporate funds, so they could pay the bonds due on schedule.

PT Chandra Asri Petrochemical Tbk (IDX: TPIA) also has a maturing bond of Rp361.4 billion on December 22, 2019. The company will use internal cash to repay the maturing bonds.

Next, PT Bank Permata Tbk (IDX: BNLI) also has a maturity bond worth Rp1.8 trillion on December 19, 2019. Finance Director of Bank Permata Lea Kusumawijaya said they had prepared funds to pay off the bonds. The funds from the bonds were previously used to support the company’s business activities.

In addition to the eight corporations above, there are five other companies that also have maturity bonds this year. Just like other companies, the corporation is also preparing funds to pay off bonds, both from internal cash, bank loans or the issuance of new bonds (refinancing).

The five corporations are PT Bank Pan Indonesia Tbk (IDX: PNBN) which has a maturity bond of Rp2 trillion on Dec 20, 2019. PT Kapuas Prima Coal Tbk (IDX: ZINC) also has a maturity bond of Rp4.6 billion on Dec 31, 2019.

Then PT Sarana Multi Infrastruktur (SMI) with bonds maturing at Rp846 billion on Dec 14, 2019. PT Permodalan Nasional Madani (PNM) with bonds maturing at Rp246 billion on Dec 19, 2019. Finally, PT Danareksa with bonds maturing at Rp250 billion on Dec 16, 2019.

US$1=Rp14,000

Written by Lexy Nantu, Email: lexy@theinsiderstories.com