JAKARTA: PT Pertamina (persero) global bonds worth US$2.5 billion were oversubscribed 3.7 times.
The global bond was divided into two tenor, 10 years and 30 years, valuing US$1.25 billion each, Pertamina President Director Karen Agustiawan said in the press release on Thursday, May 3, 2012.
“Our global bond received positive response from global investor. In offering period, demand from investor reached US$9.3 billion or oversubscribed more than 3.7 times. It shows that investors put their trust on us,” he said.
The 10-year bond, which will overdue in May 2022, was issued with coupon at 4.875%, price of 99.414, and yield 4.950%. As for the 30-year bond, which will overdue in May 2042, was issued with coupon at 6.000%, price of 98.631, and yield 6.100%.
According to the company’s data, the 10-year bond was mostly absorbed by Asian investor with 47%, European 24%, and US 29%.
Based on institution, 62% was absorbed by investment manager, 15% bank, 8% insurance institution and pension fund, 7% central bank and investment management institution, and 8% private bank.
For the 30-year bond, Asian investor absorbed 32%, European 23%, and US 45%. Investment manager absorbed 75%, bank 7%, insurance institution and pension fund 10%, central bank and investment management institution 2%, and private bank 6%.
“We will use the proceeds for capital expenditure and company’s operations,” he added.
In the corporate action, the state-owned oil and gas company appointed Barclays Bank PLC, Citigroup Global Markets Limited, and The Hongkong and Shanghai Banking Corporation Limited (HSBC) as joint bookrunners and joint lead managers.
Meanwhile, PT Bahana Securities, PT Danareksa Sekuritas, and PT Mandiri Sekuritas acted as co-managers. (T06/msw)
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