PLN Starts USD2 Bln Bond Roadshow

JAKARTA, KOMPAS.com - Indonesian state-owned electricity firm PT Perusahaan Listrik Negara Thursday said it will start on Tuesday roadshows for its planned $2 billion offshore bond offering.

“We have appointed Barclays Capital and Citigroup as arrangers,“ the company said in a statement.

It didn't provide details of the cities it will visit. Chief Executive Officer Dhalan Iskan told Dow Jones Newswires in August that the roadshows would be held in Singapore, Hong Kong and New York, among other destinations.

It is unclear if the company will issue bonds immediately after the roadshows, considering current global financial market uncertainties, analysts said.

PLN is developing several new power plants with local and foreign partners, to meet rising electricity demand in an economy growing at more than 6% annually.

Earlier this year, state energy company PT Pertamina raised $1.5 billion from a maiden offshore bond issue. The issue attracted strong interest from foreign investors, though market sentiment was muted due to lingering sovereign debt problems in the euro zone.