Sunday, May 30, 2010

Medco sell US$200 million bonds

PT Medco Energi Internasional Tbk , giant oil and gas company of the Panigoro's family, may sell between $150 million and $200 million of convertible bonds that may be exchangeable into a more than 6.7 percent stake in the company.
Medco named Deutsche Bank AG and Credit Suisse Group AG to help arrange the bond sale. The company allocates US$1.4 billion capital expenditure in the upcoming five years for business expansion.
most fund is allotted for capital expenditure in the upcoming 3 years for LNG Donggi Senoro project. For Block A, Medco will allocate US$240 million fund but Cyril does not say the allotment of the fund for Donggi Senoro project.

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