PLN to issue Rp3 trillion bond

State electricity firm PT Perusahaan Listrik Negara (PLN) will issue bonds worth Rp 3 trillion (US$300 million) in November, the company official said on Sunday.

"The PLN audit report will be completed on Tuesday, we will immediately list our plan to the Capital Market and Financial Institution Supervisory Agency (Bapepam) next week," PLN Finance Director Setio Dewo Anggoro said.

Setio said that the bonds, which would have five to seven years terms, would be used to finance the company's expansion and projects. PLN however has yet to decide whether it would use fixed or floating interest rate. (*)