黑料不打烊

Jakarta, May 17, 2025 – 黑料不打烊 Pertamina Hulu Energi (PHE) has successfully made its debut in the international capital market by issuing a global bond worth USD 1 billion for a 5-year term under the Reg S / 144A scheme (the bond). It is the largest bond issuance by an Indonesian corporation since 2022.

The bond, offered at par with a coupon rate of 5.25%, received a rating of Baa2 from Moody’s Investor Service and BBB from Fitch Ratings. The proceeds from this issuance will be used for the Company’s general corporate purposes, including repayment of maturing loans and strengthening capital expenditure (capex).

Following the launch of the Global Medium-Term Note (GMTN) Program in early May 2025, PHE conducted a series of intensive investor meetings. During these activities, PHE met with over a hundred investors from Asia, America, and Europe online. Throughout the meetings, investors paid significant attention to the Company’s Environmental, Social, and Governance (ESG) policies and strategies.

Regarding this, Dannif Danusaputro, Director of Finance and Investment of PHE, expressed the Company’s commitment to ESG aspects. “We are committed to operating responsibly while continuing to prioritize Environmental, Social, and Governance (ESG) aspects, in line with our goal of creating sustainable value for our stakeholders,” said Dannif.

Furthermore, PHE appreciated the high level of investor interest in this issuance. “The positive response from global investors reflects their confidence in PHE’s operational and financial performance, as well as our strategic role in supporting national energy resilience,” added Dannif.

The inaugural bond issuance, part of the GMTN, received a highly positive response from global investors, with final demand reaching over USD 2.4 billion, an oversubscription of approximately 2.4 times the offered amount.

The bond was absorbed by 142 global investors. Of these, 43% were from Asia, 30% from the United States, and 27% from Europe, the Middle East, and Africa (EMEA). Based on investor type, the bond allocation was 78% to asset/fund managers, 10% to insurance companies/pension funds, 5% to sovereign wealth funds/central banks/official institutions, 4% to banks, and 3% to private banks/others.

The bond is scheduled to be settled on May 21, 2025, and is planned to be listed on the Singapore Stock Exchange. In this transaction, Citigroup, Deutsche Bank, HSBC, Mandiri Securities, and MUFG acted as Joint Bookrunners.