Securities companies eye PGN's bonds
Tuesday, August 24 2004 - 03:02 AM WIB
A number of local and foreign securities companies have expressed their interest to take part in underwriting the rupiah-denominated bonds to be issued by state owned gas distribution company PGN, Bisnis Indonesia reported on Tuesday.
"A number of securities companies which have approached the PGN management included PT Bahana Securities, PT Danareksa Sekuritas, PT Mandiri Sekuritas, PT Trimegas Sekuritas and PT Andalan Artha Advisindo Sekuritas," said PGN's president director WMP Simanjuntak.
He said the securities companies had informally applied to take part in the underwriting although PGN had not yet decided whether it would issue rupiah bonds to finance its gas pipeline project.
"We hope by the end of this month, we will ask a permit from the commissioner to seek for the funding," he said.
The company earlier reported that the rupiah bond was one of alternatives to raise cash worth between US$150 million and US$200 million to finance its gas pipeline project linking Duri and Medan in North Sumatra. The other options included US dollar-bonds, commercial loans or export credits. (*)