Skip to main content

Medco to Issue Rp 1 Trillion Bonds

Medco's Oil & Gas

PT Medco Energi International Tbk, Indonesia’s largest publicly listed gas and oil company, plans to issue its second fixed rate bonds worth Rp1 trillion to finance its projects. "The bonds have been registered at the Indonesia Stock Exchange (BEI)," PT Medco Energi Internasional Tbk President Director Darmoyo Doyoatmojo said on Friday.

"The statement of bond listing and its supporting documents were submitted to the Capital Market Supervisory Board on May 5," he said. The bonds which have received an idAA rating from local rating agency Pefindo with stable outlook, will be offered at the face value and mature in 2012 and 2014.

Darmoyo said the company would use proceeds from the issuance of the bonds to strengthen working capital and investment in support of its businesses.
"Nearly 30 percent of the proceeds will be used to finance operations, while the rest will be used to finance projects to enable the company to continue its businesses," he said.

He said Medco Energi had appointed PT Bahana Securities, PT Danareksa Securities, PT Kresna Graha Sekurinda and PT Andalan Artha Advisindo as bond issue underwriters. In 2008, Medco Energi posted the record-high net profit of US$280.2 million.

Popular posts from this blog

Romantic getaways for couple

   Bucuti Beach Resort, Aruba A romantic view at the Bucuti Beach Resort in Aruba
Read more

Surf your way into shape this summer

Stoked to try something new this summer? Get your surf on! A favorite fitness activity of super-fit celebs like Jennifer Aniston, Kate Hudson and Cameron Diaz, surfing is not only super fun, but offers a killer cardio workout to boot. Here is what you need to know before you hit the waves. MORE WOMEN IN THE WATER Like many sports, surfing was once dominated by men. But today, the waves tell a different story. From 2001 to 2005, the proportion of women among the 2.3 million surfers worldwide jumped from 19 percent to 33 percent, according to Board-Trac, a board-sports market research company. Female-focused apparel brands have driven major revenue into the billion-dollar surfing industry, with top-seller Roxy increasing their sales from $20 million to $650 million in the past ten years. Plus, there are now magazines and websites (check out Surfer Girl and Wahine Surfing ) focused solely on the girls. BODY BENEFITS OF SURFING And it’s no wonder so many women are flocking ...
Read more

Stalwart Hotel Lina is now Barceló Santo Domingo

Santo Domingo. - The ambitious refurbishing in the Hotel Barceló Lina, with a new design combining warmth and vanguard, also merits a name change  and will now be called Barceló Santo Domingo, to associate it even more with the destination, Dominican Republic’s Capital City. The Lina, one of Santo Domingo’s emblematic and traditional hotels, has modernized its facilities in keeping with the times, including new areas to offer a more cozy ambiance for all its exclusive visitors.
Read more