PLN surprises with tight pricing on $2bn debut

electricity pylons at sunset px230 for gc
By Pan Yue
10 Jul 2018

Indonesian power company Perusahaan Listrik Negara is seeking an up to $2bn debut loan, but has surprised some bankers with the tight pricing on offer.

ANZ, Citi, Bank of China Hong Kong, Mizuho, OCBC Bank, Sumitomo Mitsui Banking Corp and United Overseas Bank are the mandated lead arrangers and bookrunners. They launched the deal into general syndication last week, according to multiple bankers.

The borrowing has an initial size of $1.5bn with a ...

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