Semen Gresik to issue US$150m global bonds next year, Indonesia

PT Semen Gresik plans to issue US$150m of global bonds in 2013 to finance its plan to buy a smaller rival in Southeast Asia, Reuters reported the company’s CEO Dwi Sutjipto saying.

He said earlier that the company plans to issue around US$500m of global bonds this year but the firm decided to delay the issuance.

Sutjipto also said it plans to raise an additional IDR3-4trn (US$417.32m) via a combination of local currency bonds and commercial loans to fund its expansion plan, mainly in Myanmar, as well as new factories in Indonesia.