Jakarta - PT Perusahaan Gas Negara Tbk (PGAS) plans to buy back bonds that will mature in 2024 in the amount of US$1.350 billion.

These senior notes were issued on May 16, 2014, with ten years tenor. These bonds are listed on the Singapore Stock Exchange.

"Purchasing these bonds is a proactive step for the company in managing debt securities owned by the company," said PGAS Corporate Secretary Rachmat Hutama in an information disclosure on Wednesday (11/30).

He continued the purchase of bonds will use the availability of internal cash funds with a buyback target of around US$400 million.

The market offering period begins on November 28 and is scheduled to end on December 23, 2022. The company appointed Mandiri Securities as one of the dealer managers.

"Currently, we are still in the bidding stage to buy back the debt securities, so the value of the success of the buyback is not yet known in studying the impact of the i