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Citing Trimegah Securities Vice-President Akhabani, the newspaper reported, “[PLN] had previously planned to delay the action until 2005 due to concerns over rising US interest rates and security conditions ahead of the September 20 Indonesian election, two factors that have created unfavourable market conditions [but] PLN had decided to launch the issue this month as the market is now deemed more favourable than next year, particularly following the smooth Indonesian election.”
“We are afraid the interest rate for bonds will be higher next year than at present, thus burdening PLN's finances,” added Akhabani. Trimegah, Danareksa Securities and Bahana Securities have been tasked to arrange the bond issue.
