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Linklaters acting as international counsel for PLN’s $5B MTN program

 

JAKARTA (RambuEnergy.com) – Linklaters, a global financial advisory firm, said it is acting as international counsel for Indonesia’s state-owned company PLN on the issuance of new US$5 billion Global Medium Term Note program.

It said PLN has issued two series of USD-denominated notes in a US$2 billion drawdown to international investors.

Proceeds of the Notes will be used to repurchase the cash certain notes that PLN had previously issued in three concurrent tender offers.

This series of transactions was notable because it involved a close coordination of the new issuance of USD-denominated notes under the Global Medium Term Note program to a wide range of international investors, including US investors pursuant to Rule 144A, and concurrent settlement of three tender offers through the facilities of the US DTC settlement system, it said.

This Global Medium Term Note program gives the issuer the flexibility to issue notes with a wide range of terms, including Indonesian Rupiah-denominated, USD-settled bonds (Komodo bonds).

The establishment of the Global Medium-Term Note program included the following parties: Arrangers: Citigroup Global Markets Inc., The Hongkong and Shanghai Banking Corporation Limited, Standard Chartered Bank, Standard Chartered Bank (Singapore) Limited and Mandiri Securities Pte. Ltd.

Dealers of the issuance are Citigroup Global Markets Inc., The Hongkong and Shanghai Banking Corporation Limited, Standard Chartered Bank, Standard Chartered Bank (Singapore) Limited, Mandiri Securities Pte. Ltd., Australia and New Zealand Banking Group Limited and BNP Paribas.

The first drawdown of the Global Medium-Term Note program included the following managers: Citigroup Global Markets Inc., The Hongkong and Shanghai Banking Corporation Limited, Mandiri Securities Pte. Ltd., Standard Chartered Bank, PT Bahana Sekuritas, PT BNI Sekuritas, PT Danareksa Sekuritas. (*)

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