PLN retains UBS Singapore's service

Sat, 19 Jan 2002, 00:00 WIB | Source: AGENCIES

JAKARTA: State-run electricity company PT PLN announced on
Friday that it has decided to retain the services of UBS AG
Singapore to facilitate the purchase of part of the outstanding
senior secured debt of Dayabumi Salak Pratama Ltd (DSPL).

The debt consists of both loans and bonds, PLN said in a
statement, but it did not specify the amount.

DSPL, a subsidiary of American energy firm Unocal Corp.,
operates a 165-Megawatt (MW) geothermal power plant on Mount
Salak, West Java.

PLN purchases DSPL's debt through a portion of the claimed but
unpaid invoices over power supplies from the latter to the PLN.
-- JP

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