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Jakarta Post

Waskita mulls bond issuance for liquidity

  • Mardika Parama

    Jakarta

Jakarta   /   Fri, October 30 2020   /  01:00 am
Heavy equipment in the Bekasi-Cawang-Kampung Melayu overpass toll road construction project in Bekasi, West Java on Friday, April 24. 2020.(JP/PJ Leo)

State-owned construction company Waskita Karya (Waskita) is considering when to issue bonds worth Rp 2 trillion (US$136.6 million), as well as divesting its ownership of toll roads, as the company aims to strengthen its liquidity amid the COVID-19 crisis. Waskita finance director Taufik Hendra Kusuma claimed on Tuesday that several investors had shown an interest in the bonds. The company is also currently undergoing the issuance process with a rating agency. However, the construction firm is still waiting for the right time to issue the bonds given the current volatile market situation, he said. “We found that there is an adequate appetite for our bonds based on discussions with several investor candidates. However, we’re still taking a ‘wait-and-see’ approach for the right market and economic conditions,” he said during a virtual press conference....