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Jakarta Post

PLN expects to raise Rp 4.92 trillion from new bonds

  • Norman Harsono

    The Jakarta Post

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Jakarta   /   Mon, February 3, 2020   /  01:14 pm
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Technicians of state-owned electricity company PLN replace damaged parts of the company's power distribution grid in Jakarta.(The Jakarta Post/Dhoni Setiawan)

State-owned electricity company PLN expects to raise about Rp 4.92 trillion (US$360.7 million)  from the issuance of new bonds later this month to improve cash flow and finance electricity infrastructure expansion. In a statement sent to the Indonesia Stock Exchange on Friday, PLN said the new bonds would comprise five series: Series A worth Rp 540.6 billion with a five-year tenure, Series B worth Rp 672.5 billion with a seven-year tenure, Series C worth Rp 544.2 billion with a 10-year tenure, Series D worth Rp 1.46 trillion with a 15-year tenure and Series E worth Rp 1.59 trillion with a 20-year tenure. The bonds, which are to be officially offered to the public on Feb. 12 and 13, would offer coupon rates of between 7.2 and 9.05 percent a year. The interest rates are to be higher than the average 6.65 percent offered by government bonds, but lower than those offered by the co...