PLN picks banks for $2.2b in bonds
Monday, May 29 2006 - 11:34 PM WIB
State-owned Perusahaan Listrik Negara (PLN) has selected Danareksa Sekuritas, Dubai Islamic Bank and UBS AG to lead manage US$2.2 billion in rupiah and U.S. dollar-denominated conventional bonds as well as a U.S. dollar Islamic bond, a person familiar with the deal said Monday. The Jakarta Post reported on Tuesday.
The offerings are likely to emerge late in the third quarter or in the fourth quarter of this year, he said.
PLN just last week wrapped up marketing for Rp 2 trillion in conventional and Sharia-compliant bonds, but still has huge funding needs.
The company is currently looking to develop 24 coal-fired power plants across the country, which could increase Indonesia?s electricity output capacity by around 40 percent over the next three years. (*)