PT Jasa Marga Tbk (IDX:JSMR) claims ready to use most of funds in the issuance of global bond rupiah denominated or called Komodo Bond worth Rp 4 trillion to buy six of the seven Trans Java toll roads belonging to PT Waskita Karya Tbk (IDX:WSKT) on next year .
CEO of Jasa Marga Desi Arryani reveals, the Komodo Bond results will strengthen capital expenditures (capex) and operating expenditure (opex) which is being estimated reach Rp 17 trillion next year. From the estimation, the company has been taking into account the needs of funds to buy toll roads belonging to the Waskita Karya.
Unfortunately, Desi can not give estimation of the magnitude of funds needed by the company to buy the toll. Because the negotiation process between the two company's continued and targeted new final quarter I 2018 to come.
"Don't know yet (it costs). Yes hopefully between buyer and seller matching. God willing (to buy six toll roads), "said Desi in the Ministry of State Owned Enterprises, Monday night (4/12).
Meanwhile, issuers coded JSMR was admitted only will buy six of the seven Trans Java toll roads belonging to issuers coded WSKT, because Pemalang-Batang Toll Road in Central Java was not to sell by WSKT. A majority stake in the toll roads i.e. approximately 60 percent owned by subsidiary WSKT, namely PT Waskita Tollroad.
In addition, the Komodo Bond results mix on capex and opex JSMR will be used for other purposes, for example, support the operation of the entire toll road owned by the company.
On the other hand, not only setting up the bond for purposes of collecting results of capex and opex, JSMR next year also continues to strengthen the funding of the banking loans. "Because our investment that the ratio was 30:70, 70 percent from the bank and 30 percent from the equity," he explained.
Komodo Bond has a tenor of three years with an interest rate of 7.5 percent and is recorded in the London Stock Exchange (ISM) and the Singapore Exchange (SGX) on 11 December.
The bonds allocated to Asia amounted to 55 percent, the United States 26 percent and Europe 19 percent. By type of investors, as many as 84 per cent is allocated to asset management, while the remaining 16 percent to to the bank/public institutions/private bank.
As for the bonds got a rating (rating) of Baa3 from Moody's and BB from Standard and poor's (S&P). The rating is given due credit and financial condition of JSMR rated strong and stable.
Earlier, Deputy Construction Businesses, Transport and Infrastructure of Ministry of State Owned Enterprises Ahmad Bambang admitted encourage JSMR in order to become the majority shareholder from all toll roads there.
"Why would we want State Owned Enterprises become operator? To provide or help small and medium enterprises (SMEs) for sale in rest areas, "said Bambang.
