Lembaga Pembiayaan Ekspor Indonesia (LPEI), a company providing financing for export activities, aims to issue US$150 million of subordinated bond in a bid to fulfill foreign exchange financing.
Prior to the US$-denominated subordinated bond, LPEI will launch Rp2 trillion-Rp3 trillion bond in the first half of this year. The proceed will be used to meet export financing. In total, the notes issuance will reach Rp4.5 trillion-Rp5 trillion.
LPEI Executive Director I Made Gde Erata, as reported by Bisnis Indonesia, said the company is waiting for the audit result of its financial statement and rating from rating agencies. "We have appointed Fitch Rating and Standard & Poor's to rate our notes."
According to him, LPEI targets a 35% increase of loan channeling to Rp21 trillion this year from Rp5.5 trillion. About 40% of the total channeling will be fulfilled by foreign exchange financing.
Disclosure: No position at the stock mentioned above.
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