Medco plans to issue Rp 1.25t bonds this year
Friday, September 16 2016 - 04:58 AM WIB
By Romel S. Gurky
IDX-listed energy company PT Medco Energi Internasional Tbk plans to issue a second Rp 1.25 trillion worth of bonds this year, according to company prospectus seen on Thursday.
The company said that about 60 percent of the proceeds will be used to help repay 2013 bonds worth Rp 1.5 trillion that will mature in March 2018.
The remaining 40 percent of the expected proceeds will be used for working capital including to help finance acquisition of new assets in the future.
The company is expected to offer the bonds to investors on September 26-27. The bonds will be listed on the Indonesia Stock Exchange on October 3.
Editing by Reiner Simanjuntak