PLN Rp 2 Trillion in Issuing Bonds

Indonesian state-owned enterprises (PT Perusahaan Listrik Negara/PLN) set a coupon of 9.7% series A and series B of 10.4% for conventional bonds and Rp 2.5 trillion, equivalent to yield the same number for the Sukuk Ijarah.

It is mentioned in the published prosepktus company, Thursday (07/01/2010).

PLN PLN plans to issue bonds XII in 2010 amounted to Rp 2.5 trillion and sukuk ijarah PLN V in 2010 were USD 500 billion.

XII PLN bonds worth Rp 2.5 trillion, consisting of series A of Rp 645 billion with a term of five years and B series worth Rp 1.855 trillion with a term of 12 years. For the series A fixed interest rate 9.7%, while the series B of 10.4%.

Interest will be paid each quarter based on the payment date of each interest bond with a maturity date on July 8, 2015 for series A and July 8, 2022 for series B bonds

While the sukuk ijarah PLN V consists of a series A worth USD 160 billion in exchange for USD 97 million ijara per USD 1 billion each year maturity period of five years and B series worth Rp 340 billion with USD 104 million ijarah each USD 1 billion with a term 12 years.

Proceeds from the issuance of corporate debt will be used for investment activities in electricity power distribution network.

Indonesia credit rating (Outlook) has assigned a rating of AA + for bonds and sukuk ijarah XII PLN PLN V. As a guarantor of bonds and sukuk ijarah emissions, the company has appointed a red plate Danareksa Securities, PT Mandiri Securities and Trimegah.

While acting as trustee is PT Bank CIMB Niaga. While the approximate schedule of the effective date of June 30, 2010, the offering period 2 and July 5, 2010, and listed in Indonesia Stock Exchange (IDX) on July 9, 2010. (*)

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