JAKARTA (Rambu Energy) – PT Saratoga Investama Sedaya Tbk, a private equity firm co-founded by businessman Sandiaga Uno and Edwin Soeryadjaya, on Oct. 21, 2014 signed an agreement with PT DBS Vickers Securities Indonesia for the issuance of Medium Term Notes (MTN) worth Rp 725 billion.
The company said the MTN will be offered to limited parties. The proceeds of the MTN will be used to pay out debts owed by the company to DBS Bank Ltd.
Saratoga Investama invests in various sectors, including natural resources, power, infrastructure, finance and consumer sectors. It has interest in Adaro Energy, Tower Bersama and Medco Power. It holds 51 percent shares in Medco Power, which is currently developing a 330 MW Sarulla geothermal power plant.(*)