Medco won the U.S. $ 50 million bond offering from ongoing phase I ? ~ BUSINESS

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BUSINESS: JAKARTA. PT Medco Energi Tbk (MEDC) Net funds pocketed $ 50 million from the offering for Sustainable Bonds I EUR MEDCfirst phase in 2011. Meanwhile, the overall principal amount ofbonds to be offered the company $ 150 million.

Offer bonds rated double A minus (id AA-) with negative outlookfrom this Pefindo, was held from June 14, 2011. The bondprovides a 6.05% interest per year, which payment is made everythree months starting October 7, 2011 to come.

Duration of this bond for five years, which will expire on July 7, 2016.

Finance Director MEDC Syamsurizal Munaf in the disclosure of information calls, approximately 60% of these funds will be used torefinance (refinance) debt liability. Meanwhile, the remaining 40%longer for the company's capital expenditure.

He added that market conditions are very favorable at this timeallows the company to offer continuous bond. The Company felt thesupport and investor confidence is very strong. That way, hopefullywill get better results again in the next publication.

"So that we can refinance the existing debt, and have the availability of adequate funds to finance the company's capitalexpenditure in the future," added Syamsurizal.
source:http://investasi.kontan.co.id