Apr 28, 2011

Indika prices US$300 mio bonds at 7%

Integrated energy PT Indika Energy Tbk (INDY) just closed the offer of US$300 million bonds and price it at 7% per annum. The demand is more than 10 folds.
A source close to the deal said in total, Indika, through its wholly owned subsidiary, has issued US$300 million bonds, consisting of US$165 million for exchange offer and US$135 million new bonds.
"Indika has drawn positive response from investor, hence obtained more than 10 folds oversubscribed," the source told Insider Stories.
Indika has appointed four managers to handle the issuance, namely Citi, Goldman Sachs, Standard Chartered Bank, and UBS Securities.
"We have come to bond holders with two options. Settlement or the exchange offer with the new bonds," the source said.

Disclosure: No position at the stock mentioned above.

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