By Rebecca Melvin
New York, Oct. 19 – Indonesia’s PT Perusahaan Listrik Negara has priced $500 million and €500 million of notes in two tranches, according to a market source.
The $500 million of notes due 2049 (Baa2//BBB) sold with a coupon of 6½%.
The €500 million of notes maturing in 2025 priced with a coupon of 2 7/8%.
The state-owned electricity company had planned to price 10-year and/or 30-year dollar notes and/or a seven- to eight-year euro-denominated note.
The issuance was made under the company’s $5 billion medium-term note program
Citigroup, HSBC, Mandiri Securities and Standard Chartered Bank are joint lead managers and joint bookrunners for the Rule 144A and Regulation S notes.
Proceeds will be used to partially fund its capital expenditure requirements and for general corporate purposes related to its 35,000-MW capital expansion plan.
| Issuer: | PT Perusahaan Listrik Negara
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| Issue: | Senior notes
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| Bookrunners: | Citigroup, HSBC, Mandiri Securities and Standard Chartered Bank
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| Announcement date: | Oct. 19
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| Distribution: | Rule 144A and Regulation S
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| Marketing: | Roadshow
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| 2049 notes
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| Amount: | $500 million
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| Maturity: | Jan. 25, 2049
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| Coupon: | 6¼%
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| Yield: | 6.3%
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| 2025 notes
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| Amount: | €500 million
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| Maturity: | Oct. 25, 2025
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| Coupon: | 2 7/8%
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