PLN kicks off global bonds sale worth US$ 2 billion
Thursday, September 22 2011 - 10:04 AM WIB
State utility company PT PLN today launched the issuance of its global bond, called global medium term notes (GMTN), worth US$ 2 billion.
The proceeds of the bonds sale will be used to finance the company?s large capital expenditure programs to increase generation capacity and related network assets under its fast track program phases I and II.
PLN's Finance Director, Setio Anggoro Dewo, said in a press statement Thursday that the company has appointed Barclays Capital, Citi, HSBC and UBS as the main dealers of the bonds sale.
PLN and the bond dealers will conduct road shows abroad to meet with fixed income investors beginning from September 27, 2011.
Meanwhile, Fitch Ratings on Thursday assigned the PLN?s GMTN rating of ?BB+?. (roffie)