Publicly listed coal miner PT Indika Energy has issued US$265 million worth of global bonds with a coupon of 6.87 percent and reoffer yield of 6.95 percent.
Around 65 percent of the five-year tenured debt papers are allocated for the Asian market, 19 percent to the United States market and the remaining 16 percent for European, Middle Eastern and African markets.
The bonds saw demand amount to $1.2 billion during the offering period, the company's official statement circulated on Tuesday reads.
"The bond offering shows Indika Energy's commitment toward international investment community and reflects investors' trust in the firm's prudent financial and capital management strategy implementation," the company's president director, Arsjad Rasjid, said as quoted in the statement.
The energy company will use the raised funds to refinance its bonds due next year and repay loans of its subsidiaries.
The funds will also be used as working capital and other needs to support the company's operations.
Indika Energy's liabilities stood at $1.08 billion last year, a decrease of 18.18 percent from the previous year. (hwa)