Medco Issues Rp4.92tn Bonds

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  • Medco. TEMPO/Yosep Arkian

    Medco. TEMPO/Yosep Arkian

    TEMPO.CO, Jakarta – Listed energy company PT Medco Energi Internasional Tbk. (IDX: MEDC) has issued global bonds worth Sin$500 million (Rp4.92 trillion). The bond issuance is aimed at sourcing funds for the company’s working capital and refinancing purposes.

    MEDC director Lany D. Wong said the through its subsidiary, Medco Energi Global Pte. Ltd, the company has signed a multicurrency medium term note issuance on April 13, 2015.

    The signing was done by DBS Bank Ltd., Australia; the New Zealand Banking Corporation Limited and Mitsubishi UFJ Securities (Singapore) Limited. The agreement is guaranteed unconditionally and is irrevocable.

    Based on the permanent global notes signed by the MEG, MEDC and the Singapore branch of Bank of New York Mellon—acting as the trustee—on May 14, 2015, the initial issuance of US$100 million is part of the MYN program.

    "This is an unsecured senior bonds with a coupon of 5.9% per year and a coupon payment of every six months," Wong said in a public disclose at the Indonesia Stock Exchange (IDX) building on Tuesday, May 19.