Jakarta - PT Medco Energi International Tbk (MEDC) plans to conduct an offering of sustainable bonds IV phase I in 2021 with a maximum principal amount of Rp1 trillion.

The brief prospectus published Friday (20/8) showed that phase I is part of the sustainable bonds IV program with the targeted funds to be raised worth Rp5 trillion.

The bonds are offered in two series, Series A with a period of 36 months and Series B with a tenor of 60 months.

In order to issue this bond, Medco has obtained a rating from Pefindo, namely 'A+.'

Medco plans to use proceeds from the offering of the sustainable bonds to pay off the outstanding bonds maturing in 2022. The details are sustainable bonds II phase IV 2017 series B worth Rp1 trillion, sustainable bonds II phase V 2017 series C amounting to Rp753.5 billion, and sustainable bonds II phase VI 2017 series B worth Rp151.5 billion.

Meanwhile, the remaining funds received from the issuance of