PGN to announce pricing for $150 million bond today
Thursday, February 12 2004 - 01:24 AM WIB
Official price guidance on the upcoming US$150 million bond from Indonesia's state gas utility PT Perusahaan Gas Negara (PGN) is for a yield of 7.875 percent, Dow Jones Newswires reported quoting a banker familiar with the deal in Singapore as saying.
That is below the 7.35 percent to 7.5 percent that PGN commissioner Sumarno Surono said earlier this month the utility was seeking.
Surono told Dow Jones Newswires on Wednesday that the 10-year bond will be priced in Singapore on late Thursday.
The Credit Suisse First Boston-led bond had wrapped up its roadshow in London earlier this week.
Indonesia's largest gas utility last tapped the international bond market in August when it sold $150 million out of a planned $250 million 10-year offering also via CSFB. That bond sold at a yield of 7.75 percent.
PGN has said it may issue up to $500 million of offshore debt this year to help finance gas pipeline projects. (*)