Pertamina wows investors with 40 year bond

By Morgan Davis
14 Feb 2020

Oil and natural gas company Pertamina sold Indonesia's first 40 year dollar bond on Thursday. Investors flocked to the long dated paper, sold as part of a two-tranche transaction, pushing orders to more than $3bn for the $800m portion.

The transaction was launched in parallel to a tender offer for Baa2/BBB/BBB rated Pertamina's $1bn 5.25% 2021 senior bonds, which were trading at 103.9. The tender price was set at 104.4. The buy-back is due to close on February 20, with the results to be announced the following ...

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