PLN sells $750 million bond

State owned electricity firm PT Perusahaan Listrik Negara (PLN) has sold $750 million of notes due in 2019 to raise funds for capital expenditure.

?The note was priced to yield 8.125 percent. Demand reached $8.6 billion, or 11 times the bonds on offer. Asian investors account for 44 percent of the notes, the U.S. 28 percent, and Europe account for another 28 percent,? PLN?s Vice President Director Rudiantara said on Tuesday.

?We have no option to raise the size as that is the optimal number. Proceeds from the bond sales will be used for capital expenditure and general purposes,? Rudiantara said. (Godang)