(December 28, 2023)--PEFINDO has affirmed its idAA- rating for PT Medco Energi Internasional Tbk’s (MEDC) Shelf-Registered Bond II Phase IV Year 2017 Seri C of IDR7.0 billion due on March 30, 2024. The Company will repay its maturing bond using proceeds from the issuance plan of Shelf-Registered Bond V Phase II Year 2024 that is expected to be finalized in February 2024. As of September 30, 2023, MEDC had cash and cash equivalent of USD527.2 million.
MEDC is a publicly listed, integrated energy and natural resources company, with three main businesses in its core business of oil and gas exploration and production (E&P) activities in Indonesia, the Middle East, North Africa, and Southeast Asia; power generation; and mining. At the end of September 2023, its shareholders consisted of PT Medco Daya Abadi Lestari (51.72%), Diamond Bridge Pte Ltd (21.56%), PT Kalibiru Lestari Bersama (2.64%), PT Medco Duta (0.12%), management (1.32%), and the public (22.64%). (ends)
