PGN to start $250 million bond road show this week
Tuesday, July 29 2003 - 04:54 AM WIB
State gas distribution firm PT Perusahaan Gas Negara (PGN) will kick off investor road shows for its planned US$250 million, 10-year bond offering later this week, the company president said Tuesday.
"Road shows will be this week and next week in Singapore, Hong Kong and London. Pricing will be next week or the following week. There is no discussion of price talk right now," said PGN president WMP Simanjuntak.
Proceeds from the transaction, lead managed by Credit Suisse First Boston, will be used to finance Grisssik-Pagardewa pipeline in South Sumatra.
Global rating agency Moody's Investors Service on Tuesday assigned a B3 senior unsecured rating to the proposed issue. (godang)