"Proceeds from the issuance of bonds and sukuk will be used to meet investment needs to build electricity infrastructures," Chief of PLN Corporate Communication Unit I Made Suprateka said in a press statement released on Tuesday.
PLN expected to receive Rp2 trillion consisting of Rp1.6 trillion from the issuance of bonds and Rp400 billion from the issuance of sukuk this year, he said adding the rest will be obtained in the following years.
He said local rating agency PT Pemeringkat Efek Indonesia (Pefindo) has assigned its AAA ratings for the two kinds of debt securities.
Both the bonds and sukuk will be issued in three series --series A with a tenure of five years, series B with a tenure of seven years and series C with a tenure of 10 years.
PLN has appointed PT Bahana Sekuritas, PT Danareksa Sekuritas, PT Indo Premier Securities, and PT Mandiri Sekuritas as joint lead underwriters, with PT Bank Tabungan Negara (Persero) Tbk (BTN) acting as a trustee agent.
The book-building period started on June 6 and will end on 15, while the public offering period will start on July 3 and end on July 6. The bonds and sukuk will be floated to Indonesia Stock Exchange on July 12.
By the end of last year, the number of PLN customers reached 64.3 million, up by 5 percent from 61.2 million a year earlier. The company posted a net profit of Rp10.5 trillion in 2016, jumping 75.04 percent from Rp6 trillion the year before.(*)
Editor: Heru Purwanto
Copyright © ANTARA 2017
