JAKARTA. PT Pertamina Geothermal Energy Tbk (PGEO), a recently listed energy company under Pertamina Power Indonesia, will issue global bonds with an estimated total value ranging between USD 600 million and USD 800 million.

With a currency exchange rate of IDR 14,843 per USD, the total emission value is estimated to reach IDR 11 trillion.

Muhammad Baron, Corporate Secretary of PGEO, claimed that the company will arrange a roadshow to issue these global bonds. The roadshow is scheduled to take place from April 18 to 19, 2023. After the roadshow, the company will name the principal value, coupon, and other properties of this upcoming global bond.

“The pricing is expected to take place on April 20, 2023, while still putting the market condition into consideration,” Baron further claimed in the information disclosure in Indonesia Stock Exchange (IDX).

For the record, this global bond issuance had been stated earlier in the IPO prospectus of PGEO back in February 2023. The proceeds of this global bond issuance will then be spent on paying back facility agreement dated June 23, 2021.

In said prospectus, the global bond’s value will fall within the range of 20%-50% of the total equity of PGEO post-IPO. Until December 31, 2022, its total equity clocked up to USD 1.25 billion. (KR/ZH)