Pertamina back with $500 million 30-year bond

Just three days after printing its debut $1 billion 10-year international bond, Indonesian oil and gas company Pertamina returned to the market with a long-dated issue. Late on Friday night, the state-owned company priced a $500 million 30-year bond after investors showed interest in a longer deal.

“There was quite a bit of unfilled demand from the first bond and a few reverse enquiries,” said one banker close to the deal. “A number of companies have recently issued 30-year bonds, including Sinochem, CNOOC and CNPC, and Pertamina was looking to do the same.”

Pertamina used the same group of banks to run the books on both...