JAMSOSTEK TO PURCHASE 30 PCT PLN'S BONDS

Jakarta, Dec 4 (ANTARA) - State-owned electricity company PLN said that workers insurance firm PT Jamsostek was interested to purchase 30 percent of its bonds that could be issued next year, PLN's Vice President Director Rudiantara said.
"We are happy and hail Jamsostek's plan to buy PLN's bonds. That's pretty good if a big company like Jamsostek is interested in making investment with PLN's bonds," Rudiantara said.
He made the statement after attending a hearing with the House of Representatives (DPR)'s Commission VI which deals with energy affairs here on Thursday.
PLN on Monday announced it would issue bonds worth Rp1.5 trillion which consisted of Rp1 trillion PLN X (conventional) bonds and Rp500 billion in PLN III (sharia-based) bonds.
The bonds which would be issued in two series, namely Series A and Series B would be offered with an indicative interest rate of between 15.5 and 16.78 percent.
Jamsostek has been interested in the state-owned power company's bonds because the high interest rates it was offering.
Rudiantara did not provide further details however because at the current stage PLN was still making a book building on the coupon interest.
Previously, Jamsostek's president director Hotbonar Sinaga said his company was interest to make investment with PLN's bonds with an expectation that PLN's employees would join Jamostek's insurance scheme. PLN has 58,000 employees. ***2***