Indonesia's state-controlled energy firm PT Pertamina (Persero) has appointed three lead arrangers to raise up to US$2 billion of global bonds in the first half of 2012.
A source familiar with the deal told Insider Stories that Pertamina may mandated Citi, Barclays Capital, and HSBC.
"Initially, Pertamina picked five shortlisted potential arrangers including Deutsche Bank, Standard Chartered Bank, and those mandated lead arrangers," the source said.
The state firm has already sent out requests for proposals to several investment banks and expects to receive feedback next week, two of the sources as quoted by Reuters.
A Pertamina spokeswoman declined to comment. Pertamina made its dollar bond market debut in 2011 with a two phase offering. On May 20 it sold US$500 million of 30-year bonds that priced just four days after it raised $1 billion through a 10-year bond. Citigroup, Credit Suisse and HSBC were the bookrunners on both those transactions.
Disclosure: No position at the stock mentioned above.
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