Perusahaan Gas Negara (P.T.): Closed tender offer of $400 million is credit positive
The tender will improve the company's leverage and ease the burden of refinancing in 2024.PT Perusahaan Gas Negara Persaro Tbk is engaged in the distribution and transmission of natural gas to industrial, commercial and household users. As of Dec 31 2014, Co. operated within four segments: gas distribution, which is mainly involved in gas distribution purchased from gas suppliers and then supplies to industrial, commercial and household users; gas transmission, which is mainly involved in gas transmission for customers; exploration of oil and gas, which is involved in exploration, exploitation and business development in oil and gas; and other operations, which provides fiber optic rental for network services and construction and maintainance services to the customers.
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