JAKARTA. PT Perusahaan Gas Negara (Persero) Tbk (PGAS) will conduct a buyback of its senior bonds with a total budget capped at USD 400 million.
Rachmat Hutama, Corporate Secretary of PGAS, claimed that the company has recently signed a Dealer Management Agreement. “The company has appointed several dealer managers to help PGAS in its bonds buyback, one of which is Mandiri Securities Pte Ltd,” he stated.
For the record, the senior bonds that will be repurchased by PGAS have a collective principal of USD 1.35 billion. These securities were issued on May 16, 2014, and will mature in 2024.
The offering of this senior bonds buyback of PGAS will take place from November 28, 2022, to December 23, 2022. PGAS will reportedly use up its internal cash to fund this corporate action. (KR/ZH)