VIVAnews - State oil and gas Pertamina would issue bonds in US dollar worth US$1-1.5 billion in the first semester of 2010. The company has delivered a request for proposal to 15 foreign financial firms.
PT CIMB Securities Indonesia Managing Director Bernard Thien said the company is preparing a proposal for the bond issuance.
"The bonds may likely be issued in the middle of the first semester in 2010," he told VIVAnews on Thursday, Dec 17.
Some of the foreign financial firms that Pertamina sent include Barclays Capital, Credit Suisse, JP Morgan, and HSBC.
The fund from the bond issuance will be used for the 2010 capital expenditure. Pertamina readies Rp 39 trillion of capital expenditure, which will be mostly utilized in upstream sector.
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Translated by: Bonardo Maulana Wahono
