- VIVAnews/Tri Saputro
VIVAnews - PT Medco Energi Internasional Tbk looks at a possibility to issue other bonds than convertible bonds. "We're open for all options," said Medco Energy director of finance, Cyrill Noerhadi, in Jakarta today, August 6.
Cyrill said the company may set another target on bond issuance fund. "The target for the convertible bonds remain. However, due to the increase in share prices, there's a chance in improving the targeted fund," Cyrill claimed.
Earlier, Medco was willing to issue bonds worth US$150-250 million which is equal to 6.7 percent of the company's share value which is to be guaranteed in the convertible bonds issuance.
The convertible bonds issuance will depend much on the movement in share prices. Analysts estimated that Medco's shares would move between the support of Rp 2,950 and resistance of Rp 3,125.
As for convertible bonds, the company has assigned Deutsche Bank and Credit Suisse as the underwriter.
The bond issuance fund, according to Cyrill, will be used for meeting capital expenditure within the next three years worth US$1.4 billion. This year, the company issues US$200 worth of fund to finance capital expenditure.
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Translated by: Bonardo Maulana W
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