Global bonds of the State run Electricity Company (PLN) had oversubscribed US$4.3 billion from the plan US$1.25 billion bond issuance. The fund tapped from bond issuance will inflow the PLN account next week following the road show done by the management to some countries.
Vice President Director PLN Rudiantara said the bond coupon with 10 years tenure will be worth at 7.75 percent and yield at 7.87 percent.
"The coupon and yield are better with 25 basis points higher than the bonds issued in August. Next week PLN will get cash of the transaction," he said last night.
He said intitution investor like bank buy 41 percent dan insurance company buy 25% of the global bond.
The fund generated from global bond issuance will be allotted for investment of the development of transmission, distribution in a bid to increase capacity and minimize power blackout frequency.
Rudiantara said US and Asian investors bought the bonds 38 percent each. The other 24 percent was bought by European investors.
Rudiantara said amidst the fluctuating market, the company could tap quite huge funds by offering lower coupon than the other Indonesian company which issued global bonds at the same time.
"We got trust from investors that have so far bought bonds. With the lower coupon than the other company issuance, the investors were still interested to buy our bonds," he said.
UBS and Barclays Capital were assigned as the underwriters.
Dealing with the 10,000 MW financing program, Rudiantara said of the total of required funds in US dollar denomination worth US$4.9 billion, some 91 percent or worth US$440 million has been fulfilled.
Meanwhile, the rupiah portion of the totally required funds worth IDR19.6 trillion, some 97 percent has been covered. PLN has just got loan commitment worth US$1.09 billion for four power plant projects as part of the 10,000 MW programs.
Vice President Director PLN Rudiantara said the bond coupon with 10 years tenure will be worth at 7.75 percent and yield at 7.87 percent.
"The coupon and yield are better with 25 basis points higher than the bonds issued in August. Next week PLN will get cash of the transaction," he said last night.
He said intitution investor like bank buy 41 percent dan insurance company buy 25% of the global bond.
The fund generated from global bond issuance will be allotted for investment of the development of transmission, distribution in a bid to increase capacity and minimize power blackout frequency.
Rudiantara said US and Asian investors bought the bonds 38 percent each. The other 24 percent was bought by European investors.
Rudiantara said amidst the fluctuating market, the company could tap quite huge funds by offering lower coupon than the other Indonesian company which issued global bonds at the same time.
"We got trust from investors that have so far bought bonds. With the lower coupon than the other company issuance, the investors were still interested to buy our bonds," he said.
UBS and Barclays Capital were assigned as the underwriters.
Dealing with the 10,000 MW financing program, Rudiantara said of the total of required funds in US dollar denomination worth US$4.9 billion, some 91 percent or worth US$440 million has been fulfilled.
Meanwhile, the rupiah portion of the totally required funds worth IDR19.6 trillion, some 97 percent has been covered. PLN has just got loan commitment worth US$1.09 billion for four power plant projects as part of the 10,000 MW programs.
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