PT Medco Energi Internasional Tbk (MEDC), an oil and gas company with the highest market capitalisation in Indonesia, plans to issue its Shelf-Registration Bonds IV of MEDC Phase II Year 2022 of IDR 3 trillion.
The bonds are an extension of the public offering program of the Shelf-Registration Bonds IV, targeting to collect IDR 5 trillion in total. MEDC had previously released bonds in this program worth IDR 1 trillion in the first phase and another IDR 1 trillion in the second phase.
The management claimed that approximately 44% of the bonds issuance proceeds will be utilised to pay back four maturing bonds. Then, the remaining portion will be used to repurchase bonds (bond buyback) issued by four of its subsidiaries.
The public offering period of these Bonds IV Phase II will last from July 20 to 21, 2022. The electronic distribution of bonds will then take place on July 26, 2022, followed by the listing on Indonesia Stock Exchange (IDX) on July 27, 2022.
MEDC has received an “idAA-“ rating for these upcoming bonds. The company has also assigned four security companies as underwriters. They are PT BRI Danareksa Sekuritas, PT DBS Vickers Sekuritas Indonesia, PT Mandiri Sekuritas, and PT Trimegah Sekuritas Indonesia Tbk (TRIM). (KR/ZH)