November 6, 2018 / 6:01 AM / in 11 days

Indonesia's PLN gets $1.6 bln loan for giant power station project

JAKARTA, Nov 6 (Reuters) - Indonesia’s state-owned power utility Perusahaan Listrik Negara (PLN) said it has secured a $1.62 billion syndicated loan facility to support its role in the country’s ambitious 35 gigawatt power station development programme.

The offshore U.S. dollar credit facility with 20 international banks, signed on Oct. 25, was the first of its kind for PLN, the company said in a statement issued on Monday.

“We see this as strong proof that PLN and Indonesia’s credit profile is very good,” PLN finance director Sarwono Sudarto said.

Australia and New Zealand Banking Group Ltd, Bank of China (Hong Kong) Ltd, Citigroup Global Markets Singapore Pte. Ltd., Mizuho Bank Ltd, Oversea-Chinese Banking Corporation Ltd, Sumitomo Mitsui Banking Corp Singapore Branch, and United Overseas Bank Ltd were the lead arrangers and bookrunners. (Reporting by Bernadette Christina Munthe Writing by Fergus Jensen Editing by Kenneth Maxwell)

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