PLN to issue Rp 1.5 trillion bond
Wednesday, November 19 2008 - 01:43 AM WIB
State electricity company PT Perusahaan Listrik Negara (PLN) plans to issue sharia bonds (sukuk) worth Rp 500 billion (1US$= Rp 12,050) as part of its planned Rp 1.5 trillion bond issuance this year.
The company originally planned to issue rupiah-denominated bonds worth Rp 3 trillion and dollar-denominated bonds worth US$1 billion this year.
But because of the worsening financial market, it will only issue local currency bonds worth Rp 1.5 trillion this year, PLN President Director Fahmi Mochtar said on Tuesday.
The bonds, to be due in seven years, would be the tenth bonds the company would issue, he added.
PLN has appointed Bank Niaga a trustee agent for the bond issuance with Trimegah and Indopremiere Sekuritas as bond underwriters. (*)