PLN Issues US$1.25 billion bonds

The State Electricity Company (PLN) plans to issue US$1.25 billion bonds with UBS and Barclays Capital as the underwriters.
PLN intends to issue global bonds upon the completion of the semester I/2009 financial statement verification.
PLN funding for the 10,000 MW program is about IDR5.3 trillion covering the need for fund in US dollar denomination worth US$450 million and rupiah loan worth IDR780 billion.
Vice President Director of PLN Rudiantara refuted to comment. He just said the company in some bond issuances used UBS and Barclays Capital as the underwriters.
PLN has just attained US$1.09 billion loan commitment for four projects. The amount equals IDR10 trillion. Fahmi previously said the funding is gained from some Chinese government and domestic banks.
China Development Bank Corp, Industrial & Commercial Bank of China Ltd provided US$763 million loans to construct the steam-based power plant (PLTU) 2 Central Java with 1x660 MW capacity and PLTU West Sumatra of 2x112 MW.
PT Bank Mandiri Tbk, PT Bank Negara Indonesia Tbk, PT Bank Rakyat Indonesia Tbk also agreed provide syndicated loan worth IDR3.94 trillion for the power plant in Tarahan, Lampung, and Pangkalan Susu in North Sumatra.
Bank Mandiri disbursed IDR1.28 trillion loans, BRI IDR1.38 trillion and BNI IDR1.28 trillion to cover 85 percent of the total project. Investment credit has 10 years tenure.