Indonesia EximBank exceeds the year’s target

04 Oktober, 2012 | Source: The Jakarta Globe

Indonesia EximBank, the nation’s export financing agency, said it has booked Rp 25 trillion ($2.6 billion) in total financing deals by the end of the third quarter this year. The value of those deals has exceeded the company’s full year target of Rp 24.5 trillion for this year.

Dwi Wahyudi, managing director of the company, said in Jakarta on Tuesday that demand for the company’s financing comes from various industries such as rubber, crude palm oil and infrastructure sectors.

“The company provides loans to help the development of a port in East Java,” Dwi said, as it plans to lend up to $20 million for the project.

The government has been boosting the development of infrastructure projects such as airports, seaports and toll roads in Indonesia. Poor infrastructure has been a stumbling block in the country’s economic growth.

The company is also planning to sell Rp 2 trillion worth of bonds, of which the proceeds will be used to improve its financing business in Indonesia.

Indonesia Eximbank has selected Trimegah Securities, Danareksa Sekuritas and Standard Chartered Securities Indonesia to underwrite the debt sale. No other details regarding the bonds were given.

However, Dwi said that the sale of the bonds is part of the company’s larger plan to sell Rp 10.5 trillion of them in the next two years.

 

The Indonesian government plans to issue savings sukuk (Islamic bonds), series ST007, to expand the base of retail investors in the domestic financial market and finance green projects in the state budget (APBN).
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