JAKARTA - PT Medco Energi Internasional Tbk (MEDC) allocated IDR1.89 trillion to settle the principal amount of its Continuous Bonds IV Phase III 2022 Series A. The interest rate on these bonds was set at 7% per year (fixed) and will mature on July 26, 2025.

According to public disclosures on Monday (April 7), Anthony R Mathias, MEDC's Finance Director, stated that the company has prepared funds to settle the payment of Continuous Bonds IV Phase III 2022 Series A along with any unpaid coupons. "The funds for principal bond payments have been placed in the company's escrow account, while the funds for coupon payments have been placed in the company's current account," he explained.

He further shared that the funds to settle the 2022 Series A bonds were sourced from the proceeds of Continuous Bonds V Phase III 2025 amounting to IDR2.5 trillion, which were issued in January 2025.

"The company is committed to settling the Series A bonds upon maturity. The company has no intention of altering its decision related to this settlement as of the issuance of this statement," he added.

The issuer accumulated cash and cash equivalents amounting to US$697 million throughout 2024. Meanwhile, its EBITDA and net profit were recorded at US$367 million and US$1.27 billion, respectively. (LK/LM)