PLN says Global Bond over subscribed

State electricity firm PLN said its recent US$1.25 billion global issue had received $4.5 billion book order amid volatile global financial market condition.

CEO Fahmi Mochtar said that the bond, which will mature in 10 years carried 7, 75% coupon with yield of 7 7/8%, which is 25 basis point lower than last August? similar bond issued by PLN.

PLN will use the proceed, which is expected to be received next week, to strengthen transmission and distribution facilities, he said.(bernard)