JAKARTA – PT Medco Energi International Tbk (MEDC) prepares USD 250 million to repay several maturing bonds. The money reportedly originates from the third-party loans.
Anthony R. Mathias, Chief Financial Officer (CFO) of Medco, confirmed that his company is seeking a term loan with a maximum amount of USD 150 million to pay off its bonds. “Prior to the maturity date, the company plans to sign a loan facility with several creditors to pay off debts and fund a tender offer,” he announced in the information disclosure quoted Wednesday (12/10).
These maturing bonds in question are Bonds of 2025 worth USD 500 million and its 6.75% interest, Bonds of 2026 and 2027 worth USD 650 million and 7.375% interest each. These bonds were issued by Medco Platinum Road Pte Ltd, Medco Oak Tree Pte Ltd, and Medco Bell Pte Ltd.
According to Mathias, said loan will surely be added to the list of MEDC’s financial obligations to be paid off. (LK/ZH)