Insider Stories: PT Perusahaan Gas Negara Tbk (PGN) sealed US$275 million of syndicated loans from Standard Chartered Bank, Singapore, on November 25.
PGN, state-owned gas distribution company, will use the loan to support its US dollar denominated bonds buyback.
According to PGN’s statement to Indonesia Stock Exchange, the company will buyback US$125 million and US$150 million of two types of bond.
In 2003 and 2004, PGN sold bonds of US$125 million with maturity on February 24 2014, while the other one will due on September 10 2012. Both debts are listed in Singapore Stock Exchange. Based on debt agreement, PGN can take earlier redemption on December 24 2009 at par value.
0 comments:
Post a Comment