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Medco prepares USD 150 million on hand to install Senior Notes payment

29 April 2022 06:18

JAKARTA – PT Medco Energi Internasional Tbk (MEDC) will repurchase some of its Senior Notes issued by two of its subsidiaries, Medco Oak Tree Pte Ltd and Medco Bell Pte Ltd, preparing a maximum budget of USD 150 million. Siendy K. Wisandana, Corporate Secretary of Medco Energi Internasional, announced the plan in the information disclosure quoted Friday (29/4).

Medco Oak Treee issued Senior Notes of USD 650 million, which will mature in 2026. Meanwhile, Medco Bell also issued Senior Notes worth USD 650 million, maturing in 2027. “Senior Notes are unconditionally and irrevocably guaranteed by the company and its subsidiaries with the total purchasing price as stated in the offering document,” Wisandana explained.

As of September 2021, MEDC reported cash and cash equivalents of USD 482.26 million, current assets of USD 1.25 billion, and short-term liabilities of USD 806.48 million. (LK/ZH)

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