Pertamina Tongkang to issue bonds in US dollar and rupiah
Monday, July 14 2003 - 01:54 AM WIB
PT Pertamina Tongkang, a unit of state-owned oil and gas company Pertamina, will issue dollar-denominated and rupiah-denominated bonds with a combined value of around US$160 million.
Bisnis Indonesia daily said on Monday that the proceeds from the bonds issuance would be used to help finance the purchase of some 10 oil tankers.
The cost for the purchase would be around $300 million. Pertamina Tongkang has recently secured a $140 million bank loans.
Pertamina currently operates 130 crude and fuel tankers, of which 32 are owned by Pertamina Tongkang, Bisnis Indonesia said. (*)