Indonesia’s Listrik Negara selects banks, sets roadshow for planned dollar notes

By Rebecca Melvin

New York, April 25 – PT Perusahaan Listrik Negara has selected banks and scheduled a roadshow for an offering of U.S. dollar-denominated notes, according to a syndicate source.

Citigroup, HSBC, Mandiri Securities and Standard Chartered Bank are joint lead managers and joint bookrunners, arranging a series of fixed-income investor meetings in Asia, Europe and the United States starting on Thursday. A Rule 144A and Regulation S deal may follow subject to market conditions.

The company is also tendering for three series of notes issued by Majapahit Holding BV and guaranteed by the company, including $750 million 8% notes due August 2019, $1.25 billion 7¾% notes due January 2020 and $500 million 7 7/8% notes due June 2037.

PLN is a state-owned electricity company.

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