JAKARTA: PT Elnusa Tbk plans to issue US$50 million bond by 2011. The corporate action is aimed to finance the mining companys capital expenditure of US$100 million determined for next year.President Director of Elnusa Suharyanto confirmed that the fund will be sourced from its internal cash and bank loan.Our internal cash now is IDR700 billion. If it is inadequate, we will tap bank loan to cover our needs, he said today.Meanwhile, Corporate Secretary of Elnusa, Heru Samodra, informed that the company has enticed five banks which are eager to finance 15% of the total funding needs. They are BCA, Chinatrust Bank, Rabobank, and BII.On the other hand, Suharyanto also revealed that the companys revenue growth is projected to soar by 37% to IDR5.50 trillion from IDR4.01 trillion estimated for year end.Out of the total, Elnusas operating income is expexted to reach IDR334 billion from this years projection at IDR88 billion.Furthermore, until third quarter of 2010, the company booked IDR3.19 trillion revenue that was contributed by its integrated upstream oil and gas services (52%), downstream oil and gas services (43%), and supporting services for upstream oil and gas (5%). (T01/NOM)
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