PLN to sell $1 billion of Islamic bond
Wednesday, September 13 2006 - 12:44 AM WIB
State electricity company PT Perusahaan Listrik Negara (PLN)will begin meeting Middle East investors next week to sell as much as US$1 billion of Islamic bonds to boost power generation. The Jakarta Post reported Wednesday.
The company will sell between $800 million and $1 billion of the bonds, State Enterprises Minister Sugiharto told investors attending a conference on Islamic finance in Jakarta today.
PLN in April said it planned to sell as much as $2.5 billion worth of Islamic bonds.
The sale will be the second offering of Islamic securities by PLN this year and the seccond-biggest sale after DP World, the Dubai owned port company, sold $3.5 billion worth of the bonds in January. (*)