By Cristal Cody
Chicago, April 21 – PT Pertamina Geothermal Energy priced a $400 million offering of 5.15% green notes with a five-year tenor (Baa3//BBB-) on Thursday, according to a market source and a disclosure.
The notes priced at a spread of 151.1 basis points to Treasuries.
Initial price talk was in the 5.6% area.
ANZ Group Holdings Ltd., BNP Paribas, Citigroup, HSBC, Mandiri, MUFG, SMBC and United Overseas Bank were bookrunners for the Rule 144A and Regulation S offering.
The company conducted a virtual roadshow on April 18 and April 19.
The proceeds will be used primarily to refinance the company's bank loans and for other general corporate purposes.
The issuer is a provider of energy in Indonesia and a subsidiary of PT Pertamina (Persero).
| Issuer: | PT Pertamina Geothermal Energy
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| Amount: | $400 million
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| Issue: | Green notes
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| Maturity: | April 27, 2028
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| Bookrunners: | ANZ Group Holdings Ltd., BNP Paribas, Citigroup, HSBC, Mandiri, MUFG, SMBC and United Overseas Bank
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| Coupon: | 5.15%
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| Spread: | Treasuries plus 151.1 bps
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| Trade date: | April 21
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| Settlement date: | April 27
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| Ratings: | Moody’s: Baa3
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| Fitch: BBB-
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| Distribution: | Rule 144A and Regulation S
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| Price talk: | 5.6% area
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| Marketing: | Roadshow
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