Medco Energi explores rarely used convertible market

Indonesia's premier oil and gas producer attracts strong demand for only the country's second CB since Asian financial crisis.
PT Medco Energi has raised $176.9 million from IndonesiaÆs largest publicly marketed convertible bond issue since the financial crisis. The deal was made extra challenging by its launch on the very day Standard PoorÆs revised its ratings outlook to negative.

Investors took little notice, however, focusing instead on the growth prospects of IndonesiaÆs premier listed oil and gas producer - at a time when demand is increasing and oil prices are hovering near the $75 per barrel level. The CB proceeds will be used for capital expenditures needed to fund that growth.

The Indonesian market is also seen as attractive in its own right with greatly improving fundamentals, a strengthening currency and a 31.8% rise...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222