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Toba Bara Sejahtra

Ownership
Structure
Loans

Toba Bara Sejahtra (Toba Bara) operates three mining concessions located in East Kalimantan through three subsidiaries.

Toba Bara is majority-owned by Toba Sejahtra, which as of March 2019, was itself majority-owned by Highland Strategic Holding Ltd.

Toba Bara is publicly traded and was listed on the Indonesian Stock Exchange in 2012.

In March 2018, the company postponed a bond issue “due to unfavourable market conditions.” In April 2019, it issued a US$7M follow-on share offering for the purpose of improving its balance sheet.

Coal mining in Kalimantan, Indonesia. Credit: Dominik Vanyi. Unsplash

In February 2019, Toba Bara secured US$168 million loan to finance the development of the 2 x 50MW Sulut 3 coal-fired power station in North Sulawesi. The lenders were Bank Mandiri and Sarana Multi Infrastructure.

Toba Bara Shareholders

Investor Ownership (%) Filing Date
1. Highland Strategic Holdings 61.91 31 Mar 2019
2. Bintang Bara B.V. 10.00 31 Mar 2019
3. PT Toba Sejahtra 10.00 31 Mar 2019
4. PT Bara Makmur Abadi 6.25 31 Mar 2019
5. PT Sinergi Sukses Utama 5.10 31 Mar 2019
6. Prakoso (Roby Budi) 3.37 31 Mar 2019
7. Pandjaitan (Davit Togar) 0.75 31 Mar 2019

Corporate Lending

Loans since 2012
Institution Total Aggregate Debt (US$ millions)Number of DealsLatest Year of Deal
Bank Mandiri9322018
BNP Paribas6332014
Citigroup4822014
Standard Chartered Bank4022014
ANZ Banking Group2312011
Bank KEB Hana Indonesia1812018
Indonesia Eximbank312012

Structure of Toba Bara

DISCLAIMER
Please note the above information is from the companies’ available annual and financial reports (2012 to 2018) and websites, as well as other public and subscription-based information sources.

Occasionally, where information is incomplete, assumptions must be made about data and these were made in a consistent manner and in good faith. While we endeavoured to gather and include all relevant deals, we cannot guarantee the completeness of the information presented.

INFORMATION LAST UPDATED: 8 AUGUST 2019