Indonesia: PLN to issue bonds and sukuk worth Rp10 trillion

Indonesia: PLN to issue bonds and sukuk worth Rp10 trillion

State electricity company PT Perusahaan Listrik Negara (PLN) plans to issue
conventional bonds worth Rp 8 trillion (US$601.19 million) and sharia bonds
(sukuk) worth Rp 2 trillion this year to finance its electricity
infrastructure.

"The proceeds from the issuance of bonds and sukuk will be used to meet the
investment needs to build electricity infrastructure," PLN spokesman I Made
Suprateka said in a press statement released on Tuesday as reported by
Antara.

PLN expected to receive Rp2 trillion consisting of Rp 1.6 trillion from the
issuance of bonds and Rp 400 billion from sukuk this year, he said adding
the rest will be obtained in the following years.

He said local rating agency PT Pemeringkat Efek Indonesia (Pefindo) has
assigned its AAA ratings for the two kinds of debt securities.

Both the bonds and sukuk will be issued in three series - Series A with a
tenure of five years, series B with a tenure of seven years and series C
with a tenure of 10 years.

PLN has appointed PT Bahana Sekuritas, PT Danareksa Sekuritas, PT Indo
Premier Securities, and PT Mandiri Sekuritas as joint lead underwriters,
with PT Bank Tabungan Negara (BTN) acting as a trustee agent.

The book-building period started on June 6 and will end on June 15, while
the public offering period will start on July 3 and end on July 6. The bonds
and sukuk will be floated on the Indonesia Stock Exchange on July 12.

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Link to Original Article:
http://www.thejakartapost.com/news/2017/06/07/pln-to-issue-bonds-and-sukuk-w
orth-rp10-trillion.html

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com