JAKARTA (RambuEnergy.com) – PT Medco Energi Internasional Tbk is issuing Rp1.250 trillion worth of bonds, as part of the company’s plan to launch Rp5 trillion of bonds in the next few years.
The company sets effective date on May 28, followed by offering date on June 9 and listing on the Indonesian Stock Exchange on June 15, 2017. The bond is called Obligasi Berkelanjutan II Medco Energi Internasional Tahap V 2017.
The bond will be issued in three series – (1) Series A fixed rate bonds amounting to Rp248.5 billion with tenor of 370 days and coupon rate of 8.75%; (2) Series B bonds worth Rp129.5 billion with tenor of 3 years and coupon rate of 10.8% per annum; and (3) series C bonds worht Rp704.5 billion with tenor of five years and coupon rate of 11.3%.
The remaining Rp217.5 billion will be offered through best efforts.
The company said 60% of the bonds proceeds will be used to repay portion of matured bonds issued in 2012 which will mature in December 2017; and 40% will be used for working capital.
The company has appointed CIMB Sekuritas Indonesia, Danareksa Sekuritas, Mandiri Sekuritas and Samuel Sekuritas Indonesia. (*)