Pertamina sets up to US$7 billion capital expenditure

M. Munir Haikal, Reviana Surya

April 20, 2012 15:40

JAKARTA: PT Pertamina set US$6 billion-US$7 billion capital expenditure in 2012 to 2014. Some of the budget will be from loan facility.

Pertamina is currently issuing global bonds worth US$1.5 billion divided in two tenors. 10-years tenor bonds worth US$1 billion while the 30-years bonds worth US$500 million. The company mandated Citigroup Global Markets, Credit Suisse Securities and HSBC Securities as the selling agents.

Standard & Poor’s Ratings Services assigned the bonds with BB+. The proceeds will be used to finance capex and other corporate actions like acquisition, said S&P analyst Andrew Wong. (T05/aph)

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