Global Bond Overview

Jakarta, Mei 2021

Rahasia dan hak milik. Dilarang menggunakan material ini untuk keperluan apapun tanpa ijin
dari Divisi Financing PT Pertamina (Persero).
Confidential & proprietary. Any use of this material without specific permission of Financing
Division PT Pertamina (Persero) is strictly prohibited.
Flow Chart & Key Documentations

PT Pertamina (Persero)
Key Documents Relating to the
Managers

• Purchase Agreement/
Subscription Agreement
Notes
• Legal Opinions

Key Documents Relating to the Auditors

Key Documents Relating to Investors
• Arrangement Letter
• Offering Memorandum
Fiscal
• Comfort Letter
• Terms and Conditions/ Agent/ Managers
Description of Notes Trustee

• Notes

Notes

Investors

2
Key Working Group
Issuer
PT. Pertamina (Persero)

Fiscal Agent, Registrar,

Transfer Agent and Listing Agent Auditors
Paying Agent/Trustee [ ] [ ]
[ ]

Legal Advisors to the Issuer

As to US Law As to [domestic] Law
[ ] [ ]

Legal Advisors to the Managers

As to US Law As to [domestic] Law
[ ] [ ]

Other Parties

• Stock Exchange (SGX, HKSE) • Tax advisor

• Local Counsel for SPVs (if needed) • Counsel to Trustee

• Clearing Systems • Rating agencies 3

Marketing Considerations
• Utilize credit analysis team to drive continued • Develop comprehensive understanding of
investor interest in the Pertamina credit story 7 1 Pertamina’s credit fundamentals
• Position favorably with global sales force and
On-going Position rating agencies in advance
Credit Pertamina
• Ensure the planned offering performs 6 Analysis Credit
strongly in the aftermarket 2
• Target investors in comparable
After-market Target Anchor Emerging Markets utilities offerings
Support Accounts
• Utilize deep relationships with
• Multiple bookrunners for maximum demand, bond investors
control and efficiency
• Judicious allocation to highest quality,
Controlled
price insensitive, buy and hold accounts High-impact
Syndication
as well as interim providers of liquidity Global
Maximize Roadshow • Comprehensive roadshow
5 Investor • Address key markets and broadest
Penetration 3 audience to maximize momentum and
• Comprehensive investor and sales force education
and feedback price tension
4

Key Marketing Tools

NetRoadshow Presentation Investor Presentation and Q&A, MTN Program Global Investor
Investor Meetings and Luncheons Offering Circular Conference Calls
Marketing to Bookbuilding

Marketing
Bookbuilding

NetRoadshow
Size Indication
Investor Presentation
Pricing Limits
Offering Circular
Investor Feedback
Conference Calls
Firm/Soft Indication
Credit Research

5
Marketing Strategy
Option 1: Deal Roadshow

Release of Roadshow Roadshow Collate Launch and

Announcement
Roadshow Details Begins Continues Indications Price Issue

Announce Book 1-on-1 Investors focused on Review initial indications Potentially tighten Allocation prior
mandate for meetings Pertamina credit of interest and price guidance to pricing
potential release price guidance build orderbook
transaction

Upper End
Determine
Pricing Range
Final Price
Lower End

Bookbuilding—Build Momentum and Create Price Tension

Option 2: Transaction Announcement and Pricing Followed by Non-deal Roadshow

Net Roadshow Collate Launch and Release Roadshow

Announcement
Indications Price Issue Roadshow Detail Begins

Announce Post Presentation Potentially tighten Allocation prior Book Meetings Update on
mandate for Investor to price guidance to pricing with Investord Pertamina
announcement download Performance
for potential transaction

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Thank You