The state-controlled electricity company PT Perusahaan Listrik Negara (PLN) schedules road show in several cities in a bid to sell US$2 billion bonds.
PLN President Director Dahlan Iskan said the bond proceed will be used to fulfill capital expenditure of Rp66 trillion. "Road show will be scheduled in Singapore, Hong Kong, London, New York, and Los Angeles, while pricing will be set in September-October," he said.
According to him, PLN will offer 5, 10, and 30 year bonds to investors. Joint lead arrangers for the bonds are Barclays Capital dan Citi. PLN is scouting Rp12 trillion net profit after tax this year, a slight increase from Rp10.1 trillion last year.
Disclosure: No position at the stock mentioned above.
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