PLN hopes for bond sale in May or June
Wednesday, April 5 2006 - 01:07 AM WIB
State power firm PLN hopes to tap the local bond market in May or June after putting the fund-raising plans on hold last year, an official at the Indonesian state utility said Tuesday, The Jakarta Post reported on Wednesday.
?If the market is good, we can tap it for around Rp 2 trillion (US$222.2 million),? said Yusuf Hamdani, deputy director of financial planning.
PLN has already mandated AAA Sekuritas, Danareksa Sekuritas and Trimegah Sekuritas for what it hopes will be a 10-year deal.
The firm in 2004 and 1997 also sold 10-year rupiah bonds, Hamdani said. PLN is seeking the funds to expand its distribution network and for working capital, he added. (*)