Investors hopes PLN to offer 11.5-12% coupon for upcoming bonds
Friday, October 8 2004 - 02:52 AM WIB
State-owned electricity firm PT Perusahaan Listrik Negara (PLN) is expected to give 11.5-12 percent coupon rate on its planned Rp 1.5 trillion bond issue, the Kompas newspaper reported in its Friday edition.
“With its AA+ rating, Sampoerna (cigarette company HM Sampoerna) has offered maximum interest rate of 10.45 percent. Whereas, the 5-year state bonds are offering 10. 5 percent interest rate. So with a rating of A, PLN will definitely offer the rate above 11 percent. Between 11.5 to 12 percent,” Association of Indonesian Pension Funds (ADPI) chairman Satino said in Jakarta on Thursday.
“With the rating of A, I think there will not be any problem from the financial point of view," Satino said.
PLN bond’s underwriters are PT Bahana Securities, PT Trimegah Securities and Danareksa Securities.(*)