Pertamina’s long wait over after quick bond double
It took Indonesian energy company Pertamina several years to make its debut in the international bond market, but it was only a matter of days before the state-owned borrower returned for its second deal. Pertamina raised $500m from a 30 year bond at the end of last week, bringing its total funding to $1.5bn within the space of a few days.
It sold the $500m May 2041 bond on May 20, only four days after making its debut with a $1bn May 2021. The long-dated issue was not planned, but was driven by reverse enquiry from investors during marketing of the earlier deal.
There was enough demand to close the
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