Pertamina plans $500m bond: Bankers

Pertamina plans $500m bond: Bankers

SINGAPORE: Pertamina, Indonesia's state-owned oil and gas
company, has received proposals from banks vying for a mandate on
the possible structure of a planned $500 million bond, which it
plans to issue by the end of the year, bankers said Friday.

The proceeds will be used for capital expenditure.

Pertamina sent out a request for proposals at the end of last
week to about eight to nine banks for a bond issue which will
likely have a maturity of between five and 10 years.

The company is expected to shortlist "within the next week or
two" four or five banks, said a banker.

These shortlisted banks are then expected to make "actual
physical presentations" in mid-August, after which the mandate
will be awarded, he added.-- Dow Jones