JAKARTA. PT Medco Energi Internasional Tbk (MEDC), an oil and gas company with the highest market capitalisation in Indonesia, has concluded a tender offer for the buyback of several sets of senior notes.

There are 4 senior notes repurchased by MEDC. The first one is Bonds 2025 issued by Medco Platinum Road Pte. Ltd., then Bonds 2026 worth USD 60 million issued by Medco Oak Tree Pte. Ltd., Bonds 2027 worth USD 60 million issued by Medco Bell Pte. Ltd., and Bonds 2028 worth USD 70 million issued by Laurel Tree Pte. Ltd.

The issuers of these bonds are all subsidiaries of MEDC. The management said that this tender offer is unconditionally guaranteed and cannot be withdrawn by the company and its subsidiaries.

“The conclusion of this tender offer will lower the amount of consolidated financial obligation of MEDC,” the management of MEDC mentioned in the official release.

Prior to this, MEDC is known to have acquired a jumbo loan from its subsidiaries worth USD 480.18 million or equal to approximately IDR 7.53 trillion. Furthermore, the company even took out the same amount of loan from Medco Maple Tree Pte. Ltd. (KR/ZH)