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ublicly listed oil and gas company PT Medco Energi International says it will issue US$450 million in bonds denominated in several currencies to pay debts and support future acquisitions.

Medco Energi finance director Syamsurizal Munaf said that the bonds would be issued in Singapore dollars, Chinese renminbi, Indonesian rupiah and US dollars.

“The rupiah-denominated bonds will be issued in this second half,” Syamsurizal said on the sidelines of the a press conference after the company’s annual shareholders meeting on Wednesday.

The Capital Market and Financial Services Supervisory Agency (Bapepam-LK) said last week that Medco would issue bonds and had appointed three underwriters: DBS Vickers Securities Indonesia, Mandiri Sekuritas and Standard Chartered Securities Indonesia. “This year, the amount of our mature debt is quite high. Our rupiah bonds offered an interest rate of 13.7 percent. We will refinance them with a new debt instrument,” Lukman said.

Medco has maturing debt of $534 million this year, comprising $413.1 million in bank loans, $64.9 million in US-dollar-denominated medium-term loans (MTN) and $56.6 million in rupiah bonds. The MTN and rupiah bonds were issued five years ago.

Syamsurizal said that the company would issue $70 million in bonds as a continuation of the company’s $80 million US dollar denomination debt instrument issued last year.

“The bonds will be issued in the middle of July,” he said.

Medco is also in the process of issuing $150 million in bonds in Singapore dollars and renminbi, scheduled to be issued the third quarter.

“We are in process of pitching underwriters for the issuance. Those in talks are JP Morgan , DBS, UBS, Standard Chartered and Credit Suisse,” Syamsurizal said.

He added that Medco also planned another bond issue in the fourth quarter.

“Bonds issued in the third quarter and fourth quarter are subject to the acquisition plan,” he said.

Lukman said that the company, in a consortium with Pupuk Sriwijaya and Perusahaan Gas Negara, was in process of acquiring Block B and North Sumatra offshore (NSO), both of which are owned by US-based Exxon Mobil, whose contract for the blocks will end in 2018.

“Block B and NSO are not the only blocks that we are targeting. We also see opportunity in the country and other countries, particularly in the Middle East and North Africa,” Lukman said, declining to comment further.

At the meeting on Wednesday, shareholders authorized Medco to disburse $22.5 million in dividends, 30 percent of the company’s total net profits in 2011, to be paid on June 20. Shares in Medco (MEDC) closed at Rp 2,100 apiece on Wednesday, down 1.18 percent from Rp 2,950 a day earlier.