JAKARTA, June 9 (Reuters) - Indonesian energy firm, PT Medco Energi Internasional Tbk (MEDC.JK), plans to raise 1.5 trillion rupiah ($149 million) from a bond issue, the firm said on Tuesday, revised up from a previous plan of 1 trillion rupiah.
The firm said in a prospectus published in the Investor Daily newspaper it planned to use around 70 percent of the proceeds for capital expenditure and the rest for working capital.
Local media reported on June 2 that Medco had increased the size of its bond issue after it was oversubscribed by nearly 800 billion rupiah.
Medco, which has a stock market value of $1.15 billion, set a coupon rate of 13.375 percent for its three-year bonds and 14.25 percent for its five-year bonds.
It has appointed PT Danareksa Sekuritas, PT Bahana Securities, PT Kresna Graha Sekurindo (KREN.JK) and PT Andalan Artha Advisindo Sekuritas to underwrite the issue.
On March 31, Medco said it had planned to cut capital expenditure this year to around $200 million from $288 million in 2008.
Medco's oil production is expected to average 36,000 barrels per day (bpd) this year, down from 45,000 bpd last year, due to ageing oil fields. ($1 = 10,070 rupiah) (Reporting by Tyagita Silka; Editing by Ed Davies)
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