Indo’s PLN scraps $1bn plan, raising three smaller deals at cheaper cost

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By Pan Yue
15 Jul 2020

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 ...

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