PGN moves $1.5bn onshore as it awaits approval

By Rashmi Kumar
10 Apr 2014

Perusahaan Gas Negara is due to mandate a group of five banks to arrange a $1.5bn five year fundraising, returning to the loan market after an absence of more than four years. The company is considering to fund the loan onshore because it has yet to get approval for an offshore deal.

Australia and New Zealand Bank, Bank of Tokyo Mitsubishi-UFJ, Citi, HSBC and Sumitomo Mitsui Banking Corp are expected to be the bookrunners and mandated lead arrangers, according to bankers.

But the prospects of the Indonesian company doing an offshore loan are now hanging in the balance. This stems ...

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