Geothermal pipes of Pertamina, Indonesia (source: zmiyatul.blogspot)Proceeds from the bond will be used to pay off all remaining debt with Mandated Lead Arrangers, Kreditur Sindikasi Aawal, and PT Bank Mandiri (Persero). “The plan to use these funds is in accordance with the Eligibility Criteria set out in the company’s Green Financing Framework,” according to a statement by the PGE management. It will also provide more flexibility for the company in terms of planning and running the business.
PGE has signed purchase agreements with several parties as Initial Purchasers, including the Australia and New Zealand Banking Group Limited, Citigroup Global Markets Singapore Pte Ltd., The Hongkong and Shanghai Banking Corporation, SMBC Nikko Securities (Hong Kong) Limited, Mandiri Securities Ltd., BNP Paribas, MUFG Securities Asia Limited (Singapore), and United Overseas Bank Limited.
Earlier this year, PGE announced an Initial Public Offering at the Indonesia Stock Exchange for 25% of the company’s enlarged share capital. This allowed the state firm to raise more about USD 597 million in capital which will be used for capacity expansion efforts in their geothermal working areas.
