MedcoEnergi: Issuance of promissory notes in the form of Medium Term Notes
Wednesday, November 3 2010 - 02:53 AM WIB
(November 02, 2010)--PT Medco Energi Internasional Tbk. (?the Company? / ?MedcoEnergi?), would like to report as follows:
1. On October 26, 2010, the Company has concluded the private placement offering to a number of prominent institutional investors, arranged by PT Bahana Securities and PT Kresna Graha Sekurindo through the issuance of Medium Term Notes (?MTN?) in the total amount of USD 50 million.
2. The MTN was issued in one distribution, with interest of 6.375% and 3-year tenor.
3. The Company received the proceeds totaling to USD 50 million on 29 October 2010, which will be used to meet the Company?s funding requirement in 2010- 2011.
1. On October 26, 2010, the Company has concluded the private placement offering to a number of prominent institutional investors, arranged by PT Bahana Securities and PT Kresna Graha Sekurindo through the issuance of Medium Term Notes (?MTN?) in the total amount of USD 50 million.
2. The MTN was issued in one distribution, with interest of 6.375% and 3-year tenor.
3. The Company received the proceeds totaling to USD 50 million on 29 October 2010, which will be used to meet the Company?s funding requirement in 2010- 2011.
Financial Impact
Following the issuance of the MTN, the Company will record an additional debt of USD 50 million on its book.
The issuance is part of the Company?s ongoing series of funding exercises which include incurrence of new borrowings and assets optimization. (end of release)