Medco Energi Internasional (MEDC.JK) Issues a USD400 Million Bond

Medco Energi Internasional (MEDC.JK) Issues a USD400 Million Bond

Photo: Medco Energi Internasional 

MedcoEnergi Press Release (11/4). PT Medco Energi Internasional Tbk (MEDC.JK) is pleased to announce the successful issuance of a seven-year tenor 144A/Reg S US$400 million bond with a 6.95% coupon. 

The Company’s credit ratings affirmed B+ from Fitch, B+ from S&P and B1 from Moody’s. The Company will use net proceeds to refinance existing indebtedness and/or to support its growth agenda.

The Company recently published its Climate Change Strategy aimed at reaching Net Zero for Scope 1 and Scope 2 emissions by 2050, and Scope 3 by 2060. Our Climate Change Strategy reinforces our continuous commitment towards long term sustainability goals.

Hilmi Panigoro, the President Director of MedcoEnergi said “We are pleased with the final outcome of the bond issuance, the strong support from international and domestic bond investors reflects the Company’s record of consistent delivery of our commitments, our operational performance and deleveraging plans. With the improving of commodity prices and energy demand we look forward to continuing on our path of sustainable growth” 

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