Latham Leads on Indonesian Oil Giant's Billion Bond Issue
Indonesian state-owned oil and gas company PT Pertamina has raised $2.5 billion from the sale of bonds on the Singapore Exchange.
By Jessica Seah|May 22, 2012|Originally published on International
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Indonesian state-owned oil and gas company PT Pertamina has raised $2.5 billion from the sale of bonds on the Singapore Exchange. Latham & Watkins and Jakarta-basedAli Budiardjo, Nugroho, Reksodiputro (ABNR) acted as U.S. and Indonesian counsel to the issuer, respectively.
The senior unsecured bonds were offered in two $1.25 billion tranches – a 10-year issue bearing a 4.9 percent coupon and a 30-year issue yielding 6.1 percent.Proceeds will be used to finance capital expenditures and operating expenses.
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