JAKARTA -- Indonesian state-owned contractor Wijaya Karya on Monday said it plans to raise up to $400 million from the overseas issuance of rupiah-denominated bonds, dubbed Komodo bonds, to help fund President Joko Widodo's ambitious infrastructure drive.
In a stock exchange filing, the company said it will start a roadshow on Tuesday to test market appetite. The proceeds will be used to "fund long-term projects, procure land, buy minority stakes in a company, and refinancing debt," among other plans, it said.