PLN sets 12.25% coupon on Rp 1.5 trillion bonds
Saturday, October 23 2004 - 02:52 AM WIB
State-owned electricity company PT Perusahaan Listrik Negara (PLN) on Friday set a fixed 12.25 percent coupon on its Rp 1.5 trillion (US$=Rp 9,120) 10-year bonds, The Jakarta Post reported in its Saturday edition citing Dow Jones.
PLN had indicated a 12 percent-12.5 percent coupon earlier this month.
"The bonds were well received by the market with a total Rp4 trillion in orders received during the recent book building," Akhabani, a director with PT Trimegah Securities, told Dow Jones Newswires. Trimegah is a co-lead underwriter.
Over one-third of the orders came from pension funds and one-fifth from mutual funds, Akhabani said.
The issue of the unsecured paper marks PLN's return to the local bond market after 1997. (*)