Apr 21, 2011

Indika bonds offered at 6.785%-7.375%

PT Indika Energy Tbk (INDY), the Indonesian mining and services company, began marketing dollar bonds due 2018 to investors at a yield around the 6.875% to 7.375% area, according to a person familiar with the matter who asked not to be named as details are private.
The company plans to exchange up to US$165 million of its US$250 million of 8.5% notes due 2012 for new notes due
2018, according to an April 11 Singapore stock exchange statement.  Indika Energy also made a consent solicitation for all its outstanding US$230 million of 9.75% notes due 2016.

Disclosure: No position at the stock mentioned above.

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