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NEWS UPDATES Asean Affairs     May 2, 2017  







PLN to issue $3 billion in bonds in May

State-owned electricity company PLN plans to issue US$3 billion in global bonds next month, an increase from the $1.5 billion previously planned.

"We will have a roadshow [for investors] on Monday," PLN president director Sofyan Basir said on the sidelines of a media gathering held by the State-Owned Enterprises (SOEs) Ministry in Bogor, West Java, on Friday.

With the issuance of the debt papers, the tenure of which would be 10 years, the firm aims to refinance its bonds, worth $1 billion, due next year and fund electricity transmission expansion.

Earlier this year, Sofyan said the bonds issuance would be postponed until April as his company had received Rp 23.6 trillion ($1.8 billion) through state capital injection and Rp 10.9 trillion in subsidy funds, confirming that the amount would be unchanged at $1.5 billion.

"It [the amount] is around $3 billion now," he told journalists on Friday.

PLN needs additional funds to help finance the government’s ambitious project to build enough power plants to produce an additional 35,000 megawatts of electricity for the country.

It secured loans worth up to Rp 12 trillion ($899 million) from state lenders last September for the project.




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ASEAN  ANALYSIS

This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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