Login | Monday, 26 July 2021 |

Media Release


MedcoEnergi Results of Bondholder's Meeting

Jakarta, 17 July 2018 - PT Medco Energi Internasional Tbk ("MedcoEnergi" or the "Company") held Bondholder Meetings (“Meeting”) on Monday 16th and Tuesday 17th July 2018.

The meeting was held to approve the alignment of Medco Energi Internasional Shelf-Registered IDR Bond II Trust Deed with other instruments. With the amendment, the Company will maintain a Debt to Equity ratio of no more than 3:1; and EBITDA to Net Financial Charges ratio not less than 1:1.

Roberto Lorato, Director and CEO of PT Medco Energi Internasional Tbk, said "This is an administrative change and we are grateful to bondholders for their approval. The commodity price environment remains strong and with Sarulla unit III and our Aceh project ramping up production we have strong operating cash flows. With the approvals from the Meetings we expect to continue the steady improvement in our capital structure and operating performance.”