Holcim Indonesia seeks IDR2.5trn loans for refinancing

Holcim Indonesia is looking for IDR2.5trn (US$189.59m) in loans to refinance its maturing debts and wants to replace foreign-denominated debt to ease the currency burden, according to reports in the Jakara Post.

Kent Carson, Holcim Indonesia CFO, aid that the company, expected to have a new loan facility in place in June, either in the form of syndication or a bilateral facility from a mix of local and foreign lenders with a maturity period between three and five years. There will be some renewing and the rest of the money is for capital projects and operations," Carson told reporters on the sidelines of the company's annual general shareholders meeting in Jakarta on Tuesday.

"For the end of 2016, we're targeting to have only 19-20 per cent of foreign debts [out of total debts]," he said, adding that it made more sense to have rupiah debts as the company's assets and operations were in Indonesia.