JAKARTA (Yosefardi) – Shipping and logistic firm PT Logindo Samudramakmur Tbk (LEAD) mulls to issue bonds worth US$30-40 million, to fund its business expansion.
The company needs US$80 million fund for buying 4 vessels this year, of which 2 vessels were bought in the first half of this year.
LEAD plans to buy 12-15 units of new vessels until 2015, to invest US$240 million on vessels expansion.
LEAD also targets to cut its debt by US$71 million by 2016. The company’s debt matured this year amounts US$18.59 million, US$27.57 million will be due next year, and US$26.96 million will mature in 2016.
LEAD booked net profit of US$11.98 million in first half of this year, grew by 20% from US$7.21 million in the same period of last year.
Revenues increased 50% to US$36.6 million from previous US$24.99 million.