pln-raises-125-billion-with-10year-bond-issue

PLN raises $1.25 billion with 10-year bond issue

Indonesia's state-owned electricity company issues a 10-year US dollar bond for the second time in three months.

PT Perusahaan Listrik Negara (PLN), Indonesia's state-owned electricity company, raised $1 25 billion on Friday through its second international bond issue this year

The issuer of the senior, unsecured 10-year notes is a Singapore special purpose vehicle (SPV) called Majapahit Holding BV, which is guaranteed by Perusahaan Perseroan (Persero) PT Perusahaan Listrik Negara The issue pays a semi-annual coupon of 7 75% and was re-offered at 99 152 to yield 7 875% to a maturity date of January 20, 2020 Initial price guidance late last week had been for an 8% yield

The coupon and launch yield are both one-eighth of a percentage point higher than that offered on last month's

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