PT Perusahaan Listrik Negara, Indonesia's state utility, may price the 10-year portion of a $1
billion bond sale at a yield of 7.375 percent, lower than the 7.9 percent the company paid last year.
The company is also selling 30-year bonds, which may be priced at 8.125 percent. The utility hired UBS AG to help sell the bonds.
Investors applied for six times the bonds on offer when PLN raised $1 billion in the nation's biggest overseas sale of corporate debt last year. The yield on the 7.75 percent bonds
maturing in 2016 fell to 7.525 percent when they started trading on Oct. 13 because of the excess demand. The yield on the 7.25 percent bonds maturing 2011 fell 50 basis points to 6.905 percent the same day.
Wednesday, June 20, 2007
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