Jakarta - PT Timah Tbk (TINS) plans to issue a medium-term note (MTN) worth Rp626 billion.

The company's prospectus, released on Wednesday (10/5), said that MTN has a tenor of three years.

This MTN will be absorbed by PT Bukit Asam Tbk (PTBA) and PT Indonesia Asaham Aluminum.

The funds obtained from this MTN fundraising were used to pay off the bridging loan for sustainable bonds I phase I 2017 series B, amounting to Rp626 billion.

With the plan to issue MTN, Timah can obtain medium-term loan funds with competitive loan interest rates and maintain a stable current ratio.