Bond Negara Listrik Perusahaan 5.25% ( US71568QAD97 ) in USD

Negara Listrik Perusahaan

89.05 % ▼

Indonesia

US71568QAD97 ( in USD )

5.25% per year ( payment 2 times a year)

15/05/2047

Prospectus brochure of the bond Perusahaan Listrik Negara US71568QAD97 en USD 5.25%, maturity 15/05/2047

200 000 USD

500 000 000 USD

71568QAD9

Baa2 ( Lower medium grade - Investment-grade )

15/05/2026 ( In 39 days )

Perusahaan Listrik Negara (PLN) is Indonesia's state-owned electricity company responsible for the generation, transmission, and distribution of electricity throughout the country.

Perusahaan Listrik Negara's USD 500,000,000 5.25% bonds (ISIN: US71568QAD97, CUSIP: 71568QAD9), maturing on May 15, 2047, with a minimum trading size of USD 200,000, currently trade at 87.2% of par value and are rated Baa2 by Moody's, paying semi-annual coupons.

PRICING SUPPLEMENT
Pricing Supplement dated May 8, 2017
PERUSAHAAN PERSEROAN (PERSERO) PT PERUSAHAAN LISTRIK NEGARA
Issue of
U.S.$1,500,000,000 4.125% Bonds due 2027 (the "2027 Notes")
U.S.$500,000,000 5.25% Bonds due 2047 (the "2047 Notes", together with the 2047 Notes, the "Notes")
under its U.S.$2,000,000,000 Global Medium Term Note Program
This document constitutes the Pricing Supplement relating to the issue of Notes described herein.
Terms used herein shall be deemed to be defined as such for the purposes of the Conditions (the "Conditions") set
forth in the offering memorandum dated May 2, 2017 (the "Offering Memorandum"). This Pricing Supplement
contains the final terms of the Notes and must be read in conjunction with the Offering Memorandum.
1
Issuer:
Perusahaan Perseroan (Persero) PT Perusahaan
Listrik Negara
2
(i) Series Number:
2027 Notes: 1
2047 Notes: 2

(ii) Tranche:
2027 Notes: 1
2047 Notes: 1
3
Specified Currency or Currencies:
U.S. Dollar
4
Aggregate Nominal Amount:
2027 Notes: U.S.$1,500,000,000
2047 Notes: U.S.$500,000,000
5
(i) Issue Price:
2027 Notes: 98.990% of the Aggregate Nominal
Amount of the 2027 Notes
2047 Notes: 98.514% of the Aggregate Nominal
Amount of the 2047 Notes

(ii) Net Proceeds:
U.S.$1,999,840,000 (after deduction of the
commission to the Managers)
6
(i) Specified Denominations:
U.S.$200,000 and integral multiples of
U.S.$1,000 in excess thereof

(ii) Calculation Amount:
U.S.$1,000
7
(i) Issue Date:
May 15, 2017

The Company expects that delivery of the Notes
will be made against payment on or about May 15,
2017, which will be five business days (as such term
is used for purposes of Rule 15c6-1 of the Exchange
Act) following the date of pricing of the Notes (this
settlement cycle is being referred to as "T+5").
Under Rule 15c6-1 of the Exchange Act, trades in
the secondary market generally are required to settle
in three business days unless the parties to any such
trade expressly agree otherwise. Accordingly,
purchasers who wish to trade the Notes on the date
of this Pricing Supplement or the next business day
will be required to specify an alternative settlement
cycle at the time of any such trade to prevent a
failed settlement. Purchasers of the Notes who wish
to make such trades should consult their own
advisors.

1

(ii) Interest Commencement Date:
May 15, 2017
8
Maturity Date:
2027 Notes: May 15, 2027
2047 Notes: May 15, 2047
9
(i)
Interest Basis:
2027 Notes: 4.125% Fixed Rate
2047 Notes: 5.25% Fixed Rate

(ii) Default Rate:
None
10
Redemption/Payment Basis:
Redemption at par

11
Change of Interest or Redemption/
Not Applicable
Payment Basis:
12
Put/Call Options:
Not Applicable
13
Status of the Notes:
Senior, Unsecured
14
Listing:
Singapore Exchange Securities Trading Limited
15
Place of Payment:
New York
16
Method of distribution:
Syndicated
PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE
17
Fixed Rate Note Provisions
Applicable

(i) Rate(s) of Interest:
2027 Notes: 4.125% per annum payable
semiannually in arrears
2047 Notes: 5.25% per annum payable
semiannually in arrears

(ii) Interest Payment Date(s):
May 15 and November 15 in each year,
commencing on November 15, 2017. Interest on the
Notes will accrue from May 15, 2017.

(iii) Fixed Coupon Amount(s):
2027 Notes: U.S.$20.625 per Calculation Amount
2047 Notes: U.S.$26.25 per Calculation Amount

(iv) Broken Amount(s):
Not Applicable

(v) Day Count Fraction:
30/360

(vi) Determination Dates:
Not Applicable

(vii) Other terms relating to the method of
Not Applicable
calculating interest for Fixed Rate Notes:
18
Floating Rate Note Provisions
Not Applicable

19
Zero Coupon Note Provisions
Not Applicable

20
Index-Linked Interest Note
Not Applicable
Provisions

21
Dual Currency Note Provisions
Not Applicable
22
Default Rate
Not Applicable

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PROVISIONS RELATING TO REDEMPTION
23
Call Option
Not Applicable
24
Put Option
Not Applicable
25
Final Redemption Amount of each
Not Applicable
Note
26
Early Redemption Amount

Early Redemption Amount(s) per Calculation
100%
Amount payable on redemption for taxation reasons
or on event of default and/or the method of
calculating the same (if required or if different from
that set out in the Conditions):
GENERAL PROVISIONS APPLICABLE TO THE NOTES
27
(i) Form of Notes:
Registered Notes:
Permanent Global Note exchangeable for Definitive
Notes in the limited circumstances specified in the
Permanent Global Note

(ii) Applicable TEFRA exemption
Not Applicable
28
Talons for future Coupons or Receipts to be
Not Applicable
attached to Definitive Bearer Notes (and dates on
which such Talons mature):
29
Financial Center(s) or other special provisions
London, New York and Hong Kong
relating to Payment Dates:
30
Details relating to Partly Paid Notes:
Not Applicable
amount of each payment comprising the Issue Price
and date on which each payment is to be made and
consequences (if any) of failure to pay, including
any right of the Issuer to forfeit the Notes and
interest due on late payment:
31
Details relating to Installment Notes:
Not Applicable
amount of each installment, date on which each
payment is to be made:
32
Redenomination, Renominalization and
Not Applicable
Reconventioning:

33
Consolidation provisions:
Not Applicable

34
Use of Proceeds:
To partially fund our capital expenditure
requirements and for general corporate purposes
35
Other terms or special conditions:
Not Applicable
DISTRIBUTION
36
(i) If syndicated, names of Managers:
2027 Notes:
Citigroup Global Markets Inc. (U.S.$730,000,000)
The Hongkong and Shanghai Banking Corporation
Limited (U.S.$730,000,000)
PT Bahana Sekuritas (U.S.$10,000,000)
PT BNI Sekuritas (U.S.$10,000,000)

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PT Danareksa Sekuritas (U.S.$10,000,000)
PT Mandiri Sekuritas (U.S.$10,000,000)

2047 Notes:
Citigroup Global Markets Inc. (U.S.$250,000,000)
The Hongkong and Shanghai Banking Corporation
Limited (U.S.$250,000,000)

(ii) Stabilizing Manager (if any):
Citigroup Global Markets Inc.
37
If non-syndicated, name of Dealer:
Not Applicable
38
Additional selling restrictions:
Not Applicable
39
Interests of Managers involved in the issue / offer:
The Managers and certain of their affiliates may
have performed certain investment banking and
advisory services for the Issuer and/or its affiliates
from time to time for which they have received
customary fees and expenses and may, from time to
time, engage in transactions with and perform
services for the Issuer and/or its affiliates in the
ordinary course of their business. The Managers or
certain of their affiliates may subscribe for the
Notes and be allocated Notes for asset management
and/or proprietary purposes and not with a view to
distribution.

The Managers or their respective affiliates may
subscribe for the Notes for its or their own account
and enter into transactions, including credit
derivatives, such as asset swaps, repackaging and
credit default swaps relating to the Notes and/or
other securities of the Issuer or their respective
subsidiaries or associates at the same time as the
offer and sale of the Notes or in secondary market
transactions. Such transactions would be carried out
as bilateral trades with selected counterparties and
separately from any existing sale or resale of the
Notes to which the Offering Memorandum relates
(notwithstanding that such selected counterparties
may also be subscribers of the Notes).
OPERATIONAL INFORMATION
40
ISIN Code:
2027 Notes:
Rule 144A: US71568PAC32
Reg S: US71568QAC15

2047 Notes:
Rule 144A: US71568PAD15
Reg S: US71568QAD97

41
CUSIP:
2027 Notes:
Rule 144A: 71568PAC3
Reg S: 71568QAC1

2047 Notes:
Rule 144A: 71568PAD1
Reg S: 71568QAD9
42
Any clearing system(s) other than Euroclear Bank
The Depository Trust Company ("DTC")
S.A./N.V. and Clearstream Banking S.A. and the

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HKDOCS01/220945.7

relevant identification number(s):
43
Delivery:
Delivery against payment
44
Additional Paying Agent(s) (if any):
Deutsche Bank Trust Company Americas
(for Notes held through DTC)

Deutsche Bank AG, Hong Kong Branch
(for Notes held through
Euroclear/Clearstream)

PURPOSE OF PRICING SUPPLEMENT
This Pricing Supplement comprises the final terms required for issue and admission to trading on the Singapore
Exchange Securities Trading Limited of the Notes described herein pursuant to the U.S.$2,000,000,000 Global
Medium Term Note Program of the Issuer.
RESPONSIBILITY
The Issuer accepts responsibility for the information contained in this Pricing Supplement.

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