More Solid Performance, Pelindo Repays USD 500 Million Global Bond

Jakarta, 1 October 2024 - Pelindo successfully repaid the Global Bonds 2024 (‘PLBIIJ 2024’) of USD 500 million or Rp7.5 trillion which matured on 1 October 2024, coinciding with the 3rd Pelindo Day. The repayment was carried out by optimising the use of internal cash of ± USD 170 million or IDR 2.5 trillion and the rest was sourced from Bank Mandiri and Bank BTPN loans of ± USD 330 million or IDR 5 trillion (assuming an exchange rate of IDR 15,000).

Pelindo President Director Arif Suhartono explained that in line with Pelindo's business growth after the merger, Pelindo will continue to reduce debt through optimising internal cash capabilities. Thus, Pelindo's performance and financial posture are expected to be better and more solid from year to year. Previously, the company had repaid Rp10.25 trillion in debt.

‘With the repayment of the Global Bonds debt, three years after the merger, Pelindo has reduced its loans with a total value of Rp12.75 trillion,’ said Arif.

Furthermore, Pelindo's Finance Director, Mega Satria added that operational efficiency and optimisation of the use of internal cash were the driving factors for debt reduction. This is a form of Pelindo's financial capability and part of the implementation of post-merger strategic initiatives to reduce debt ratios and improve corporate efficiency in the face of global economic challenges.

‘The successful repayment of the 2024 Global Bonds shows a form of corporate commitment to global investors while strengthening Pelindo's position in the international market and reflecting the company's increasingly strong credibility,’ said Mega.

Pelindo's financial performance has also received positive assessments from international rating agencies, namely the ‘Baa2’ rating from Moody's Rating Agency in 2023 and the ‘BBB’ rating from Fitch Rating Agency in 2024, which shows that the company has a stable outlook and has sufficient ability to fulfil long-term commitments.