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Electricity company PLN postpones global bonds issuance
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PLN president director Sofyan Basir answers journalists' questions. (thejakartapost.com/Anton Hermansyah)
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tate-owned electricity company PT Perusahaan Listrik Negara (PLN) will postpone its plan to issue global bonds worth US$1.5 billion after the disbursement of state capital injection and subsidy funds.
"It [the issuance] will be a little bit delayed because we just received Rp 23.6 trillion ($1.8 billion) of PMN (state capital injection) and Rp 10.9 trillion of subsidy funds," PLN president director Sofyan Basir said at the Office of the Coordinating Maritime Affairs Minister in Central Jakarta on Thursday.
Sofyan met with Coordinating Maritime Affairs Minister Luhut Binsar Pandjaitan on the same day but he refused to discuss the content of their meeting.
"Maybe the [global bond] issuance will be in April," Sofyan said, adding that the amount would remain at a similar figure.
No underwriter has been appointed yet.
The bonds issuance was previously aimed to help fund the government’s ambitious project to build a number of power plants sufficient to produce an additional 35,000 megawatts of electricity for the country.
PLN has also secured loans worth up to Rp 12 trillion from state lenders in September last year for the project. (bbn)
