Its earning before interest, tax, depreciation and amortization (EBITDA) is estimated to reach US$2,648 million, Head of Corporate Communication and Government Relations of PT Inalum, Rendy Witoelar told ANTARA News Agency here on Monday.
PT Inalum, which is the holding for state-owned mining companies, has taken over the majority 51 percent shares of the Indonesian unit of the U.S. mining giant FreeportMcMoRan Copper & Gold.
The financial income of PT Freeport Indonesia, which has large copper and gold mine in Papua, is predicted to be stable at US$7,000 million a year on the average until 2034, before it took a downtrend until 2041 when the income shrank to only US$855 million.
Last week it was reported that Inalum, which operates an aluminum smelter in Asahan, North Sumatra, already raised US$4 billion in fund from the sales of global bonds to finance the acquisition of the 51 percent stake in PT Freeport Indonesia.
"The global bond fund has been received , therefore we are ready for the transaction with Freeport," Rendy Witoelar said.
Rendy went on to say Inalum hoped to wrap up the financial closure of US$3.85 billion for the majority 51 percent stake in Freeport Indonesia with the remaining fund to be used for refinancing.
He said no assets were put in mortgage to back up the bonds, which are divided into four terms - US$1 billion to be repayable in three years with a coupon rate of 5.23 percent; US$1.25 billion for five years with a coupon rate of 5.71 percent, US$1 billion for 10 years to be due for repayment with a coupon rate of 6.53 percent and US$750 million for 30 years with a coupon rate of 6.757 percent.
Reporting by Afut Syafril Nursyirwan
Editing by Suharto
Reporter: antara
Editor: Heru Purwanto
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