PLN mulls issuing $2b in bonds

May 25, 2011, 02.31 PM | Reporter: Edy Can

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JAKARTA. State electricity firm PT PLN is mulling the issuance of global bonds worth between US$1.5 billion and $2 billion to help finance its capital expenditure.

The decision on whether to issue the bonds would be made by the end of June, PLN president director Dahlan Iskan said in Jakarta on Wednesday.

He added that it was possible the company would issue sharia-based bonds (sukuk), or seek loans from local banks.

"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 [the figure]. I don't want extra unnecessary funds.” (Erwida Maulia/The Jakarta Post)