MEDC - PT. Medco Energi Internasional Tbk

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JAKARTA. PT Medco Energi Internasional Tbk (MEDC) will issue Shelf-Registration Bonds V Phase II Year 2024 with total principal worth IDR 1.5 trillion.

Said bonds are said to be a part of Public Offering of Shelf-Registration Bonds V of MEDX, targeting to raise IDR 5 trillion. Prior to this, the company had issued its first-phase bonds with a principal of IDR 1 trillion in 2023.

During the second-phase bonds’ issuance, MEDC will offer bonds in three series. Series A will be offered for IDR 208.85 billion, followed by series B of IDR 427.95 billion and series C of IDR 863.19 billion.

The coupon attached to these three series of bonds will vary, ranging from 7.35% to 8.50% per annum. Meanwhile, the tenor of these three series of bonds will also vary from 3 to 7 years since the emission date.

In the issued prospectus, MEDC will allocate the proceeds of the bonds’ issuance to pay off maturing obligations this year. In addition, the proceeds will also be utilised to repurchase (buyback) the company’s bonds in United States Dollar (USD).

Several underwriters assigned by MEDC include PT BRI Danareksa Sekuritas, PT DBS Vickers Sekuritas Indonesia, PT Mandiri Sekuritas, and PT Trimegah Sekuritas Indonesia (TRIM).

Meanwhile, the public offering of the bonds will take place on February 1-2, 2024, followed by the listing on Indonesia Stock Exchange (IDX) on February 12, 2024. (KR/ZH)