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Tuesday, November 23, 2010

Medco issues another MTN US$50 million

BI / exchange
2/11/2010
Irvin Avriano A.
Bisnis Indonesia

Medco issues another MTN US$50 million

JAKARTA: PT Medco Energi Internasional Tbk issues medium term notes (MTN) worth US$50 million with a coupon of 6.375% maturing in 2013.

In the disclosure of information to the Indonesia Stock Exchange (IDX/PT Bursa Efek Indonesia) today, Medco President Director Darmoyo Doyoatmojo explain PT Bahana Securities and PT Kresna Graha Sekurindo Tbk helped the company to in issuing the debt as lead underwriter.

The MTN targeted also targeted institutional investors.

"[The fund from the MTN issuance] will be used for funding the company's needs," said him in the information disclosure.

He said the issuance had already planned before, and as part of a series of transactions, including debt issuance, and optimization the company's asset.

The company recently posted a net profit of US$ 17.99 million, an increase of 18.5% compared to the same period last year.

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