The state-controlled PT Pertamina (Persero) launches US$1 billion global bond with 10 years tenor to add the company’s capital expenditure this year.
The bond’s coupon level is set at 5.25% or 235.1 basis points premium over the government bond, said Pertamina Finance Director M. Afdal Bahaudin.
Pertamina plans to spend Rp37.1 trillion this year for capital expenditure or rose 86.4% from Rp19.9 trillion last year. 76.4% or Rp28.4 trillion will be used for upstream sector and the rest of 23.6% or Rp8.7 trillion to develop downstream sector.
Citigroup Global Markets, Credit Suisse Securities, and HSBC Securities will act as bond managers. “Its settlement is in May 23 at price of 98.097%,” he said, yesterday.
Disclosure: No position at the stock mentioned above.
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