The State run Electricity Company (PLN) plans to increase the amount of bond issuance from IDR1.5 trillion into IDR3 trillion. The conventional bonds issued here will stand at IDR2 trillion at maximum and sharia bond IDR1 trillion.
Vice president director of PLN Rudiantara responding to the bond issuance amount said it opens to increase the number of bonds. "There is chance for it. But we still consider the incoming offer," he said last night.
Vice president director of PLN Rudiantara responding to the bond issuance amount said it opens to increase the number of bonds. "There is chance for it. But we still consider the incoming offer," he said last night.
Rudiantara said PLN will enter the market by end of the year by using June financial statement to draft the bond offer prospectus. PLN has appointed Mandiri Sekuritas, Bahana Sekuritas, and Danareksa Sekuritas as the underwriters.
PT Pemeringkat Efek Indonesia set idAA- rating to PLN and the issued bonds. The number of conventional bonds issued by PLN stood at IDR7.84 trillion and sharia bonds IDR1.26 trillion.
The sharia bonds rating is idAA-9(sy) with stable prospect.
Analyst of Pefindo Ronald Hertanto and Vonny Widjaja said the rating here reflected the support given by the government and market possession by PLN. Besides, PLN is deemed having financial flexibility along with the growing electricity demand.
However, the rating is faced to the not flexible tariff adjustment scheme, exchange rate risk, and global oil fluctuation which could affect the company finance profile.
PLN is an integrated power producer in Indonesia with the total capacity of 26,064 MW.
Considering the 10,000 MW program financing from the total required funds in US dollar denomination worth US$4.9 billion, the company could fully covered 91 percent or there is still another US$440 million more.
Meanwhile, for the rupiah portion, the total needs worth Idr19.6 trillion has been 97 percent covered. PLN has just got credit commitment worth US$1.09 billion for four power plants project inclduing the 10,000 MW project.
The funding here equals IDR10 trillion which is provided from some Chinese banks and domestic ones. China Development Bank Corp, Industrial & Commercial Bank of China Ltd provide US$763 million loans for the steam-based power plant (PLTU) 2 Central Java (with 1X660 MW capacities) and PLTU West Sumatra (2X112 MW).
PT Bank Mandiri Tbk, PT Bank Negara Indonesia Tbk, PT Bank Rakyat Indonesia Tbk also agreed to provide some IDR3.94 trillion syndicated loans for power plant project in Tarahan, Lampung, and Pangkalan Susu, North Sumatra.
Investment credit here has 10 years tenure as the ongoing of 10,000 MW project expanded to outside Java.
The sharia bonds rating is idAA-9(sy) with stable prospect.
Analyst of Pefindo Ronald Hertanto and Vonny Widjaja said the rating here reflected the support given by the government and market possession by PLN. Besides, PLN is deemed having financial flexibility along with the growing electricity demand.
However, the rating is faced to the not flexible tariff adjustment scheme, exchange rate risk, and global oil fluctuation which could affect the company finance profile.
PLN is an integrated power producer in Indonesia with the total capacity of 26,064 MW.
Considering the 10,000 MW program financing from the total required funds in US dollar denomination worth US$4.9 billion, the company could fully covered 91 percent or there is still another US$440 million more.
Meanwhile, for the rupiah portion, the total needs worth Idr19.6 trillion has been 97 percent covered. PLN has just got credit commitment worth US$1.09 billion for four power plants project inclduing the 10,000 MW project.
The funding here equals IDR10 trillion which is provided from some Chinese banks and domestic ones. China Development Bank Corp, Industrial & Commercial Bank of China Ltd provide US$763 million loans for the steam-based power plant (PLTU) 2 Central Java (with 1X660 MW capacities) and PLTU West Sumatra (2X112 MW).
PT Bank Mandiri Tbk, PT Bank Negara Indonesia Tbk, PT Bank Rakyat Indonesia Tbk also agreed to provide some IDR3.94 trillion syndicated loans for power plant project in Tarahan, Lampung, and Pangkalan Susu, North Sumatra.
Investment credit here has 10 years tenure as the ongoing of 10,000 MW project expanded to outside Java.
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