May 4, 2012

Pertamina bonds seals US$9.3 bio demand

The state-controlled oil and gas producer PT Pertamina (Persero) secured US$9.3 billion demand for its US$2.5 billion bonds, reflecting more than 3.7 folds oversubscribe.
Pertamina has set coupons of 4.875% and 6% for US$2.5 billion bonds. The bonds are consisting of 10 and 30 year maturity. The US$1.25 billion bond, due in Mei 2022, will provide 4.875% coupon and 4.950% yield, while the remaining 30 year bond will bear 6% coupon and 6,10% yield.
Pertamina's global bonds have been assigned Baa3 with stable outlook from Moody's and BB+ with positive outlook from Standard & Poor's, and BBB- with stable outlool from Fitch Ratings. 
Pertamina will use the proceed to fulfill its capital expenditure and operational purpose.
Barclays Bank PLC, Citigroup Global Markets Limited, and The Hongkong dan Shanghai Banking Corporation Limited are joint bookrunners and joint lead managers for the bonds issuance. PT Bahana Securities, PT Danareksa Sekuritas, and PT Mandiri  Sekuritas are actiong as co-managers. 
Disclosure: No position at the stock mentioned above.

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