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Pertamina May Pay Premium To Secure $700m Loan
December 16, 2009

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noewijaya
11:58pm Dec 17, 2009

Hi...I hear that Pertamina sent out request for proposal to 15 foreign investment banks. The company asks investment banks to submit their proposal containing dollar denominated bond structure on Dec 21. Some stellar such as Credit Suisse, UBS, Barclays, Citi, BNP have been invited. Hope it will give you materials for follow up story. http://wisnuwijaya.blogspot.com


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State oil and gas company PT Pertamina may pay interest of as much as 335 basis points more than the London Interbank Offered Rate for a $700 million, five-year loan, according to two people familiar with the matter.

The loan is due to finish syndication as early as next week, said one of the people. A Pertamina spokesman was not immediately available for comment on Wednesday.

Pertamina hired ANZ, BNP Paribas, HSBC and the Royal Bank of Scotland to help it secure the loan.

Pertamina said on Monday that rising oil prices may push 2010 profit to Rp 17.7 trillion ($1.9 billion) from an estimated Rp 15.3 trillion this year. 

Bloomberg