By Rebecca Melvin
New York, Nov. 2 – Indonesia’s PT Pertamina (Persero) priced $750 million of 6½% 30-year senior notes (expected ratings: Baa2/BBB-/BBB-) at 98.061 to yield 6.65%, according to market sources on Friday.
The notes were brought under the company’s $10 billion global medium-term note program and sold via joint bookrunners BNP Paribas, Deutsche Bank AG, London Branch, HSBC, Mandiri Securities Pte Ltd. and Standard Chartered Bank.
Proceeds of the Rule 144A and Regulation S notes will be used to help finance the tender offer for the company’s outstanding $1 billion 5¼% senior notes due 2021 and $1.25 billion 4 7/8% senior notes due 2022.
Pertamina is a state-owned oil and gas company based in Jakarta.
| Issuer: | PT Pertamina (Persero)
|
| Amount: | $750 million
|
| Maturity: | Nov. 7, 2048
|
| Description: | Senior notes
|
| Bookrunners: | BNP Paribas, Deutsche Bank AG, London Branch, HSBC, Mandiri Securities Pte Ltd. and Standard Chartered Bank
|
| Coupon: | 6½%
|
| Price: | 98.061
|
| Yield: | 6.65%
|
| Trade date: | Nov. 1
|
| Settlement date: | Nov. 7
|
| Ratings: | Moody's: Baa2
|
| S&P: BBB-
|
| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
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