Energy Medco Completes Note Issue
PT Medco Energi Internasional, the country’s biggest listed oil company, said it had completed its offering of $50 million medium-term notes through a private placement.
Darmoyo Doyoatmojo, Medco’s president director, said the notes were offered to a number of prominent institutional investors. He said the first $28 million tranche of notes had a two-year term and paid 7.25 percent interest, while the remaining notes had a three-year term and paid 8 percent interest.
Darmoyo said the money raised would be used to cover the company’s funding requirements this year.
JG
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