Jakarta, Oct 10 (ANTARA) - PT Medco Energy International Tbk (MEDCO) offers bonds following the fluctuating of global and domestic markets, said the company's president, Lukman Mahfoedz, here Monday.
According to Lukman, Medco International offered sustained U.S. dollar bonds worth 150 million U.S. dollars, the equivalent of Rp1, 34 trillion in three stages from the previous two stages.
Lukman said that the ongoing U.S. dollar bond Phase III is accompanied by bonds interest which will be paid on every three months according to the date of payment of each interest.
The interest rate is based on calendar days based percentage per annum of their nominal value.
"We have not determined the value of the Phase III bonds," he said.
The ongoing Phase I bond is offered at a value of 50 million US dollars or Rp448, 7 billion, while the ongoing Phase II bond approximately 30 million US dollars or Rp269, 2 billion, which resulted that the Phase III bonds will be offered with at least 80 million U.S. dollars or Rp718 billion.
Medco Energi's sustainable Bonds amounto to 150 million U.S. dollars had been awarded with rank-id AA (double A minus, negative outlook) from a credit rating agency PT Pemeringkat Efek Indonesia (Pefindo).
The company has entrusted PT Bahana Securities and PT Bank Mega as underwriters of securities and the trustee.
These bonds are not secured by collaterals in the form of items, income or other assets in any company and are not guaranteed by any other parties.
The funds obtained from the bond proceeds after deducting the cost of issuance will be used to refinance the company's debts and 40 percent on he companie's expenses.
For phase II bidding reception results, the company is planning its use for debt repayments of all or part of near deadlines corporate securities debt priority.
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