Indo’s PLN scraps $1bn plan, raising three smaller deals at cheaper cost
Indonesian state-owned electricity company Perusahaan Listrik Negara has changed tack on its loan plans in a bid to seal thinly priced deals in a difficult market environment, writes Pan Yue.
PLN has scrapped a $1bn five year loan in favour of three separate deals.
The company has mandated three banks for a $300m one year loan. Korea Development Bank, Mizuho and Sumitomo Mitsui Banking Corp are the mandated lead arrangers and bookrunners.The lead banks are planning to open the ...