PLN plans asset securitization, bonds offer
Tuesday, May 2 2017 - 02:41 AM WIB
Petromindo
State-owned electricity firm PT PLN plans to securitize its power plant assets in a bid to raise up to Rp 10 trillion in proceeds to help finance the development of new power infrastructure facilities.
PLN President Director Sofyan Basir said on Friday that at the assets to be securitized are power plant assets including the PLTU Suralaya coal-fired power plant.
?The assessment (of the asset securitization plan) has not been completed yet. Fund raising target is between Rp 5 trillion and Rp 10 trillion,? he said, without providing further details.
Meanwhile, Sofyan was quoted by Bisnis Indonesia as saying Tuesday that the company started on Monday overseas roadshow to Europe and the US to market a planned global bond worth up to US$3 billion. ?On Monday, we?ll fly to Europe and US to market the bonds,? he said on Friday.
He said that proceeds from the new bond issue will be used to repay $1 billion worth of bonds maturing next year, and the remainder to help finance the development of transmission lines.
Editing by Reiner Simanjuntak