PLN negotiating for US$1.3 billion loan

The State owned Electricity Company (PLN) is seeking US$1.3 billion loan from banks in support of the capacity building program into 8,700 megawatt (MW).
To help seek the loan, PLN has appointed HSBC to be the finance consultant. PLN seeks 10 year tenure loans.
Vice President Director of PLN Rudiantara said the required fund here is part of the PLN need funds in the USD denomination standing in total of US$4.5 billion.
He said now the company has been negotiation the rupiah denominated loan worth IDR4.3 trillion with local bank syndication.
"The need for fund in rupiah denomination stands at IDR17.3 trillion and has been covered by IDR13 trillion. We need US$4.5 billion loan in dollar denomination and has been covered US$1.76 billion."