AP II seeks fund from bond market Rp2 trillion

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Photo by AP II

JAKARTA (TheInsiderStories) – State own airport provider PT Angkasa Pura II (AP II) seeks fund from bond market up to Rp2 trillion ($151.52 million) with tenor 5, 7 and 10 years in June. The bonds issuance helped by PT Mandiri Sekuritas and PT Danareksa Sekuritas as a joint lead underwriter.

President Director of AP II Budi Karya Sumadi, said the purpose of this bond issuance is also in order to meet capital expenditure requirements for the development of airports, especially Soekarno-Hatta International Airport (Soetta Airport). This year, AP II prepared capital expenditure worth Rp12 trillion mostly to develop Terminal 3 Ultimate at Soetta Airport in Tangerang province.

AP II has get loans from PT Bank Mandiri Tbk (IDX: BMRI), PT Bank Rakyat Indonesia Tbk (IDX: BBRI) and PT Bank Negara Indonesia Tbk (IDX: BBNI) Rp2.1 trillion beside from bond issuance.

Terminal 3 Ultimate has an area of 331.101 square meters and can accommodate the movement of as many as 25 million passengers per year. Currently the company managed 13 airports across the country.

AP II plans to develop new airport across at West of Indonesia areas with total investment up to Rp60.1 trillion, which is for Soekarno Hatta International Airport at Tangerang province allocated Rp41 trillion, especially for Terminal 3 Ultimate projects.

AP II hopes that the third runway will be operational by the end of 2017, in a move to increase the capacity of the country’s main gateway. It is expected that more than 100 airplanes will land at Soekarno-Hatta airport every hour by 2018.

This is in stark comparison with its current capacity of 72 airplanes per hour across two runways, Budi said. When its completing the expansion of Soekarno-Hatta airport’s third terminal–which is expected to be operational in this year–the new terminal will increase the airport’s total annual passenger handling capacity to 70 million, from its current 55 million.

The company expects that Soetta Airport, which is the country’s largest and busiest international airport will be able to compete with its counterparts in neighboring countries. 
The 42.2-hectare terminal will have a capacity of 15 million passengers in the first phase and 25 million passengers upon its full operation, which is expected to begin in February next year.

State-Owned Enterprises Minister Rini Soemarno said Terminal 3 Ultimate should have a level of quality on par with Singapore’s Changi International Airport, which is currently the largest transit airport in the ASEAN region.

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Source: The Insiderstories
AP II seeks fund from bond market Rp2 trillion

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