JAKARTA (Yosefardi) – State electricity company PT Perusahaan Listrik Negara (PLN) plans to issue bonds worth Rp1.67 trillion next month, of which shariah bonds amounting Rp429 billion.
It had issued bonds worth Rp879 billion and shariah bonds worth Rp121 billion this year, part of its Rp12 trillion bond program.
PLN will issue bonds next month in two series; series A amounting Rp593 billion with tenor of 5 years and coupon of 9% and series B amounting Rp651 billion with tenor of 10 years and coupon of 9.6%.
While shariah bonds consist of series A amounting Rp321 billion with tenor of 5 years and series B amounting Rp108 billion with tenor of 10 years.
The offering is scheduled for December 4-5, 2013 while listing at stock exchange is set for December 11, 2013.
Acting as underwriters are PT Bahana Securities, PT Danareksa Sekuritas, PT Mandiri Sekuritas, and PT Standard Chartered Securities Indonesia.
The bond proceeds will be used to fund investment on transmission network in Sumatra island, Java, Bali, Sulawesi, Maluku, Papua and investment on interconnection for Java-Bali distribution network.