JAKARTA - PT MNC Energy Invesments Tbk (IATA) will issue bonds worth a maximum of IDR 1.5 trillion. The guarantee for these upcoming bonds includes the company's assets.

Andi Tenri Dala Fajar, Corporate Secretary of MNC Energy Investments, said that the plan regarding this bonds issuance will be decided during the Extraordinary General Shareholders Meeting on June 16, 2023. "It is intended to reinforce the capital and financial structure of the company," he confirmed in the information disclosure quoted Thursday (11/5).

The total value of the bonds will be equal to 126.53% of IATA's own equity of USD 75.35 million, as recorded in December 2022.

The company manages PT Bhakti Coal Resources (BCR), the holding company of 8 coal mining companies with Mining Business Licenses in Musi Banyuasin, South Sumatra, claiming a total area of 72,478 Ha for 9 mining licenses. The area includes the ones owned by PT Bumi Sriwijaya Perdana Coal (BSPC) with projected coal resources of 147.7 million MT, PT Putra Muba Coal (PMC) of 76.9 million MT, and PT Indonesia Batu Prima Energi (IBPE) of 31.3 million MT. Furthermore, they have projected coal reserves of their own, of 92.3 million MT, 54.8 million MT, and 17.3 million MT, respectively.

On top of this, PT Arthaco Prima Energi is expected to begin operating this year. Meanwhile, PT Energi Inti Bara Pratama, PT Sriwijaya Energi Persada, PT Titan Prawira Sriwijaya, and PT Primaraya Energi are under preparation to start operating this year and in 2024. Now, according to BCR's data, the estimated total resources clock up to 1.58 billion MT. (LK/ZH)