PGN refinances US$275 million bond

The state-owned distribution gas company, PT Perusahaan Gas Negara Tbk (PGAS), has refinanced global bond worth US$275 million using bank loan facility.
According to a public statement to Indonesia Stock Exchange today, the company made early redemption on December 24 this year. PGAS utilized loan facility of US$275 million arranged by Standard Chartered Bank.   
PGAS via its subsidiary PGN Euro Finance Ltd issued two series of global bond, consisting of US$125 million due on February 24 2014 and US$150 million of notes mature on September 10 2013. Both are listed at Singapore Stock Exchange.
The company has decided to provide an interim dividend of Rp10 per share to its share holders or Rp242.39 billion in total. December 8 2009.
PGAS booked revenue of Rp13.5 trillion in nine months this year, elevated 50% from a year before. The company's September net profit skyrocketed 145% to Rp4.4 trillion compared to last year.
The achievement was mainly contribued by an increase of gas sales volume in distribution business at the end of September this year, reaching 776 (million standard cubic feet per day/MMSCFD), up 37% compared to last year.
Operating income booked a steep jump in revenue to Rp5.9 trillion from the same period last year. Growth performance is reflected by rising EBITDA by 55% to Rp7.1 trillion compared to last year.

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