Linklaters advises PT Perusahaan Listrik Negara on its US$1.5bn bond issuance

Linklaters has advised PT Perusahaan Listrik Negara (Persero) (PLN), Indonesia’s state owned electric utility company, on its successful US$1.5bn senior unsecured bond issuance under Rule 144A/Regulation S.

The offering comprised two tranches: US$500m 4.75% notes due 2031 and US$1bn 5.45% notes due 2036. The issuance attracted strong investor demand across Asia, EMEA and the US, underscoring international investor confidence in PLN and Indonesia’s long term infrastructure strategy. Proceeds from the issuance will be used to accelerate electricity infrastructure development across Indonesia, specifically transmission, distribution, and non coal related generation projects.

The Linklaters team was led by Partner and Head of South and Southeast Asia Capital Markets Amit Singh, with support from associate Edward Lee.