PLN issues Rp1.5 trillion bonds
Government electricity company PT Perusahaan Listrik Negara (PLN) is issuing Rp1 trillion (US$85 million) bonds and Rp500 billion (US$42 million) Islamic bonds or sukuk from today until 16 December. Following this offer, the bonds will be listed in the Indonesia Stock Exchange on 12 January next year.
The company plans to use the cash raised to construct electricity generators and transmission facilities to meet its 10,000 MW electricity supply target by 2010. Underwriting the bonds will be PT Danareksa Sekuritas, PT Trimegah Securities and PT Indo Premier Securities.
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