JAKARTA (Yosefardi) – Medco Energi Global Pte Ltd (MEG), unit of PT Medco Energi Internasional Tbk (MEDC) has established S$500 million multicurrency medium term note (MTN) program with DBS Bank Ltd, Australia and New Zealand Banking Corporation Limited, and Mitsubishi UFJ Securities (Singapore) Limited.
Pursuant to permanent global notes executed between MEG, MEDC and Bank of New York Mellon, Singapore branch as Trustee on 14 May 2015 has proceeds the initial issuance of S$100 million dollar notes as part of MTN program.
MEDC booked net profit of US$13.7 million in 2014, declined 12.5% from US$15.98 million in 2013. It recorded total sales and other operating revenues of US$750.73 million in 2014, declined 15% from US$886.52 billion in 2013. Net oil and gas sales fell 15.2% to US$701 million from previous US$827 million.
MEDC’s assets totaled US$2.7 billion while liability amounted US$1.78 billion. The company has cash of US$206.6 million.