PLN Issues Rp1.73 Trillion Bonds, See the Coupons!

JAKARTA – PT Perusahaan Listrik Negara (PLN) will issue bonds valued at Rp1.73 trillion in four series that will be used for power plant construction.

Through information disclosure to the Indonesia Stock Exchange (IDX), the issuance of bonds from these state-owned companies will enter a public offering period on April 30 and will be listed on May 8, 2020.

PLN Phase VII Sustainable Bonds in 2020 is divided into four series. First , Series A with a principal amount of Rp316.7 billion with an interest rate of 7.92 percent with a tenor of 3 years.

Second , Series B with a principal amount of Rp99.15 million with an interest rate of 8.25 percent per year and a tenor of 5 years. Third , Series C with a principal amount of Rp312.18 billion with 8.55 percent interest per year for a 7-year tenor.

Fourth , Series D with a principal amount of Rp1,009.1 billion or around Rp1 trillion with 9.1 percent interest. This last series has the longest tenor, which is 10 years from the issue date.

The bond interest for each series is fixed interest and will be paid every three months. The first bond interest payment will be paid on August 6, 2020.

The bond issuance was carried out by cooperating with PT BCA Sekuritas, PT BNI Sekuritas, PT Danareksa Sekuritas, PT Indo Premier Sekuritas, and PT Mandiri Sekuritas as underwriters. Meanwhile, the trustee is PT Bank Tabunan Negara (Persero) Tbk.

Based on data from the Financial Services Authority (OJK), as of 3 April 2020 there were 17 bond issuances with a total value of Rp19.85 trillion. The breakdown of the Phase I bond issuance is IDR3.07 trillion, and the next tranche of PUT is IDR16.77 trillion.

The biggest bonds issuance was carried out by PT Perusahaan Listrik Negara (Persero) on February 13, 2020 worth Rp4.81 trillion, then PT Sarana Multigriya Financial (Persero) on February 12-13, 2020 amounting to Rp4.46 trillion.

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