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Medco Energi to repay bonds from global bond issuance

02 August 2019 16:49

JAKARTA. PT Medco Energi Internasional Tbk (MEDC) will pay off bonds worth Rp 549 billion, which will mature on September 30, using funds from the issuance of global bonds worth US $ 500 million.

The maturing bonds were issued by the company in 2016, and received an "idA +" affirmation from the Indonesian Rating Agency (Pefindo). In an official statement on Friday (2/8), Pefindo assessed that MEDC has a strong commitment in paying off its long-term debt effect.

MEDC has also announced that the US $ 500 million in global bonds, issued in March 2019, were indeed used to pay off maturing bonds.

For information, MEDC is an oil and gas producer with the largest market cap in Indonesia. In the first quarter of this year, MEDC's EBITDA reached US$ 159.5 million. The company's EBITDA margin also improved to 56.2% in the first quarter of this year, from 47.8% in the 2018 fiscal year. (KR/MS)

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