Medco to issue Rp1.5t in bonds

Medco to issue Rp1.5t in bonds

JAKARTA: Publicly listed oil and gas company PT Medco Energi Internasional will issue five-year bonds worth in total of Rp 1.5 trillion (US$159 million) in order to help finance the acquisition of Australian-based energy firm Novus Petroleum Ltd.

In a statement published on Wednesday Medco said the indicative fixed interest rate of its planned bonds would be at 13.125 percent. The company will offer the bonds from July 2 to July 7, and will list it on the Surabaya Stock Exchange on July 13.

The bond has received an AA- rating from local rating agency PT Pefindo. PT Indo Premier Securities Indonesia, PT Mandiri Securities and PT UOB Kay Hian Securities are the underwriters for the issue. -- JP