tate electricity company PT Perusahaan Listrik Negara (PLN) plans to issue conventional bonds worth Rp 8 trillion (US$601.19 million) and sharia bonds (sukuk) worth Rp 2 trillion this year to finance its electricity infrastructure.
"The proceeds from the issuance of bonds and sukuk will be used to meet the investment needs to build electricity infrastructure," PLN spokesman I Made Suprateka said in a press statement released on Tuesday as reported by Antara.
PLN expected to receive Rp2 trillion consisting of Rp 1.6 trillion from the issuance of bonds and Rp 400 billion from sukuk this year, he said adding the rest will be obtained in the following years.
(Read also: PLN determined to boost electrification)
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 (BTN) acting as a trustee agent.
The book-building period started on June 6 and will end on June 15, while the public offering period will start on July 3 and end on July 6. The bonds and sukuk will be floated on the Indonesia Stock Exchange on July 12. (bbn)
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