Wednesday , October 20 2021

Inalum pays USD 4 billion for the divestment of Freeport VIVA shares


VIVA – PT Indonesia Asahan Alumunium or Inalum Mining Industry Holding receives $ 4 billion in funds to pay for PT Freeport Indonesia's disposal shares. The funds come from international bonds or foreign debt.

Inalum's Managing Director, Budi Gunadi Sadikin, said the fund had been concluded in Cash Inalum since last night. Thus, Inalum's total assets and members holding also increased from Rp100 trillion to currently Rp160 trillion.

"Our assets are Rp100 T (trillion). But yesterday at 9 o'clock it rose to Rp160 T, because the money came in, we got cash, $ 4 billion last night, Budi said at the 2018 Indonesian Energy Economic Forum at Dharmawangsa Hotel, Jakarta, Friday, November 16, 2018.

He disclosed that the bonds were issued on the Singapore Stock Exchange. According to him, bonds are selected, because the interest rate is fixed, so it differs from bank loans whose interest rates tend to be volatility.

"The best interests of the farmer are the interests prepare, For banks, the interest rate depends on the market. Well, now the interest rate trend goes up. So we are wants di-prepare right, "he said

Initum conducted an international bank syndicate loan and terminated. Another reason, says Budi, is that if Inalum lends through bank syndicated loans, there will be major deductions every month.

"If you borrow from a bank, there are main installments, every six months or a year. In the form of bonds, the principal will pay at the end. flow better, says the former CEO of Bank Mandiri.

In the case of the reason, Inalum initially chose a bank loan? Therefore it is easier than issuing bonds. "It's easier, bonds (bonds) are very difficult. This is right, the biggest one ever suggested by Indonesia," he said.

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