PT Pertamina, Indonesia's state oil company, shortlisted 3-4 banks to help it sell as much as US$1.5 billion of global bonds. The company shortlisted 3-4 banks from the 20 investment bank proposed.
The company also plans to sell more than 1 trillion rupiah of bonds this year to finance capital spending. The bonds will be sold on the strength of Pertamina's 2009 financial report, to be completed at the end of June.
Royal Bank of Scotland Plc (RBS), ANZ, BNP Paribas, Citi, Credit Suisse, HSBC, and Standard Chartered Bank passed the shortlist.
Pertamina capital expenditure focuses on the upstream development of oil and gas such as field acquisition, development, and reserves rise. Pertamina whose profit in 2010 may rise to IDR20 trillion, is spending about US$400 million to build liquefied natural gas terminals in Java.
The government this year targets to tap IDR20 trillion dividend shared by Pertamina or rose IDR2.2 trillion as from IDR17.8 trillion this year.
Thursday, January 21, 2010
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