Heaptalk, Jakarta — PT Perusahaan Gas Negara Tbk (PGN) has fully repaid the remaining bonds worth US$396,709,000 on time as per the due date in 2024.
“This is part of the total bond repayment amounting to US$1.35 billion, which was issued in 2014 and listed on the Singapore Exchange,” explained PGN in its written press release on Tuesday (05/28).
This repayment by Pertamina‘s Gas sub-holding was made according to the maturity period of the debt securities. The repayment was carried out using a combination of internal funds and credit facilities that PGN has held since 2023.
The 2024 repayment amount corresponds to the remaining debt securities outstanding after several corporate actions, where management repurchased these debt securities in 2022 and 2023. In 2022, PGN repurchased part of these debt securities amounting to US$400,000,000. This action was then continued with another repurchase worth US$553,440,000 in 2023.
This repayment is part of PGN’s management strategy to handle liabilities, aiming to strengthen the company’s financial performance and enhance investor confidence. “This step demonstrates our commitment to maintaining the company’s financial stability and providing greater value to investors,” said PGN’s Finance Director, Fadjar Harianto Widodo.
Fadjar further added that PGN remains committed to executing the planned work program, including the investment plans scheduled for this year, while continuously monitoring the latest global developments. This repayment is expected to positively impact PGN’s future financial performance, particularly in aspects related to interest burden and strengthening the company’s financial position.
