PT Semen Indonesia - January 2019

Semen Indonesia has instructed BNP Paribas, Deutsche Bank’s Singapore branch, Maybank, MUFG Bank and Standard Chartered as the lead arrangers for a US$1.28bn, two-year bridge loan to support its acquisition of Holcim Indonesia.

Semen Indonesia will take over 6.18m shares in Holcim Indonesia for a total cost of around US$940m. The deal includes four cement plants, 33 ready-mix plants and two aggregate quarries, giving Semen Indonesia an additional 14.8Mta of cement capacity, 10.45Mta of clinker capacity and 14.6 per cent market share.

“Amid the increasingly competitive condition of the cement industry in Indonesia, the combination of Semen Indonesia and Holcim Indonesia will create for us a bigger and stronger footprint,” said Hendi Prio Santoso, president director, Semen Indonesia.