PLN board conducting roadshow to market US$3b global bonds

JAKARTA (TheInsiderStories) – State electricity company PT Perusahaan Listrik Negara (PLN) board is conducting roadshow in a number of world’s financial center including London and New York to market its plan US$3 billion bonds issuance. “We are heading to Europe and US to market the bonds on Monday (May 1),” PLN president Director Sofyan Basir was quoted by local wire. He said portion of the bonds, around US$1 billion will be used to refinance US$1 billion bonds that will mature next year and the remaining US$2 billion will be used to fund the development of its power transmission projects. The value of the bonds is higher than the original plan revealed by PLN earlier this year amounting to US$1.5 billion. (*)