PLN plans to issue $20 billion global bonds
Monday, May 7 2012 - 01:42 AM WIB
State owned electricity company PLN plans to issue global bonds worth US$2 billion or about Rp 18 trillion in the second quarter of this year to further support the company?s capital expenditure, Investor Daily reported on Monday.
?We plan to issue global bonds worth up to $60 billion in the long run in order to increase capital expenditure. The first global bond will be issued in the second quarter of this year,? PLN?s corporate secretary Bambang Dwiyanto said on Sunday.
He said that proceeds from the global bond issuance will be used to finance expansion of power transmission facilities, the construction of new power plants and new power transformers. The expansion of the power grids is needed to meet the surge in power supply from new power plants, he added.(*)