VIVAnews - PT Bakrie & Brothers Tbk (BNBR) is looking at a chance to issue international bond worth of between US$200 million and US$250 million which is expected to have five-year due.
Bakrie & Brothers CFO Eddy Soeparno said on a written statement on Tuesday, Nov 3, that the company is willing to replace its short-term financing with long-term one.
"This may support investment which commonly dues in more than 12 months," said Eddy.
According to Eddy, Bakrie & Brothers will finance the bond issuance.
The fund will be allocated for paying off short-term loans. "The remaining will be used for financing Bakrie & Brothers' investment," said Eddy.
Eddy said the bond issuance will help making the company's capital and financial structure more efficient.
The company is prioritizing on polishing up the financial system through debt rationalization and restructuring.
"The process will be settled by this year's second quarter. Therefore, the largest debt portion of Bakrie & Brothers will due in 2012," said Eddy.
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Tranlated by: Bonardo Maulana Wahono
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