Oil and gas producer PT Medco Energi Internasional Tbk (MEDC) plans to issue convertible bonds (CB) worth US$300 million in 2011.
Medco Director of Finance Cyril Nurhadi admitted said there is a debt due next year and must be repaid. "Besides, we also will use these funds to develop Block A," he said. Moreover, Medco will allocate capital expenditure (capex) amounting US$250 million. The funds will be mostly derived from the internal cash. How is the CB issuance progress? Please login or register to read the remaining story.
Disclosure: No position at the stock mentioned above.
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