Wednesday, June 1, 2011

PLN wants additional funds

PT PLN -Indonesia state electricity firm- is thinking about the issuance of global bonds worth between U.S. $ 1.5 billion and $ 2 billion to help finance capital expenditure.

PLN President Director, Dahlan Iskan said, the decision on whether to issue the bonds would be made by the end of June.
"We most definitely need loans, but whether the funding will come from local banks or through the issuance of bonds we will only decide in late June," Dahlan said.

As for the loan amount, Dahlan said, "It will be between US$1.5 billion and $2 billion. We are continually evaluating. I don't want extra unnecessary funds.” Dahlan added that it was possible the company would issue sharia-based bonds (islamic bonds/sukuk), or seek loans from local banks.

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