ID :
33643
Tue, 12/02/2008 - 23:00
Auther :
Shortlink :
http://m.oananews.org//node/33643
The shortlink copeid
PLN TO ISSUE BONDS WORTH RP1 TRILLION
Jakarta, Dec 2 (ANTARA) - PT Perusahaan Listrik Negara-PLN (state-owned electricity company) will issue bonds in 2009 worth Rp1 trillion consisting of Series A five-year and Series B seven-year bonds.
"The proceeds from the bond issuance will be used to add its capital for financing development of electricity transmission from generators carried out under the 10,000 Megawatt Fast Track Program," the state-owned electricity company's chief commissioner Alhilal Hamdi said at a due dilligence meeting and public expose at the company's office here on Tuesday.
Besides the conventional bonds the company will also issue shariah-based bonds worth Rp500 billion.
Both the conventional and shariah-based bonds are issued with a call option to be done on the third year after date of the issuance and payment of coupons and share to be done every three months.
PLN has appointed PT Danareksa, PT Trimegah Securities and PT Indo Premier as its underwriters and set the period of book bidding from December 2 to 16.
The PLN's tenth bond is rated AA- and its third shariah-based bond idAA-sy (double A minus shariah: stable outlook) by the Pefindo rating agency.
The two kinds of bonds are to be listed at the Indonesia Stock Exchange on January 12, 2009.
Hamdi said PLN had so far issued conventional bonds in the rupiah currency nine times and shariah bonds twice.
It has also issued global bonds twice each worth US$1 billion. "The company has always paid out all its obligations in time including when the country was in an economic crisis," he said.
He said he was optimistic the bond issuance would attract investors as it was supported by the government as supplier of electricity for the country.
Until the first semester of 2008 PLN's business earnings reached Rp78 trillion, rising from Rp52 trillion from the same period last year.
The improving performance of the company was driven by demand growth which is expected to stand at an average nine percent for the next 10 years.
PLN expects to be able to meet 95.5 percent of household needs in 2018 rising from only 60.8 percent last year.
"The proceeds from the bond issuance will be used to add its capital for financing development of electricity transmission from generators carried out under the 10,000 Megawatt Fast Track Program," the state-owned electricity company's chief commissioner Alhilal Hamdi said at a due dilligence meeting and public expose at the company's office here on Tuesday.
Besides the conventional bonds the company will also issue shariah-based bonds worth Rp500 billion.
Both the conventional and shariah-based bonds are issued with a call option to be done on the third year after date of the issuance and payment of coupons and share to be done every three months.
PLN has appointed PT Danareksa, PT Trimegah Securities and PT Indo Premier as its underwriters and set the period of book bidding from December 2 to 16.
The PLN's tenth bond is rated AA- and its third shariah-based bond idAA-sy (double A minus shariah: stable outlook) by the Pefindo rating agency.
The two kinds of bonds are to be listed at the Indonesia Stock Exchange on January 12, 2009.
Hamdi said PLN had so far issued conventional bonds in the rupiah currency nine times and shariah bonds twice.
It has also issued global bonds twice each worth US$1 billion. "The company has always paid out all its obligations in time including when the country was in an economic crisis," he said.
He said he was optimistic the bond issuance would attract investors as it was supported by the government as supplier of electricity for the country.
Until the first semester of 2008 PLN's business earnings reached Rp78 trillion, rising from Rp52 trillion from the same period last year.
The improving performance of the company was driven by demand growth which is expected to stand at an average nine percent for the next 10 years.
PLN expects to be able to meet 95.5 percent of household needs in 2018 rising from only 60.8 percent last year.
