Investor Presentaiton
Sound Financial Position
Revenue (US$m)
294
2018
402
2019
158
2018
Debt
US$200m syndicated facility of 8
international banks
• Closed October 2018
3 year amortizing corporate facility maturing
TB Opco
1
(PT BSI)
in Q1 2022
Libor + 3.5%
•
US$120m outstanding balance as at 30
June 2020
EBITDA (US$m)
228
MERDEKA
COPPER GOLD
Hedging
H2-
37,004 oz at US$1,453 / oz
2020
Gold
2021
3,000 oz at US$1,775 / oz
Copper
2020
2019
SMBC
ING
|| UOB
Goldman
Sachs
HSBC
BNP PARIBAS
SOCIETE
GENERALE
CRÉDIT AGRICOLE
CORPORATE & INVESTMENT BANK
Merdeka
2 Holdco
•
US$100m club facility of 4 international
banks
• Closed March 2019 maturing in Sep 2020
Libor + 4.25%
This facility is expected to be refinanced in
August 2020 with the issue of an IDR bond
IDR1.4t (c.US$96m) bond closed 30 July
2020
- 1yr: Rp674b at IDR 8.9%
- 3yrs: Rp726b at IDR 10.5%
- UOB
BNP PARIBAS
HSBC
BARCLAYS
IDR Bond
Nil
•
•
.
Comments
Strong cash flow generation with
consolidated EBITDA of US$228 m for 2019
Cash position of US$56m as at 30 June 2020
Modest hedging with significant exposure to
upside in gold and copper given large
resource base
Building profile of Merdeka in international
equity markets to support growth -
completion of US$60m equity raise in July
2019
New institutional investors have improved
liquidity
Analyst coverage from Argonaut, BNI, Citi,
Credit Suisse, Ciptadana, CLSA,
Indopremier, KISI, Mandiri, Panin, Sucor,
RHB, Trimegah
8View entire presentation