Apr 13, 2011

Indika to exchange US$165 mio bonds

Energy integrated company PT Indika Energy Tbk (INDY) today announced an exchange offer for US$165 million of its bonds which mature in 2012 with 7-year new bonds to be issued by Indo Energy Finance B.V.
Indika Corporate Secretary Deddy Happy Hardi, in an official statement submitted to Indonesia Stock Exchange today, said in tandem, the company's unit Indo Integrated Energy B.V. also proposed a consent solicitation in a bid to change indenture of bonds which mature in 2012.
Each  holder of the bonds who approve the indenture change will be entitled with a consent fee of US$7.5 for every US$1,000 bonds.
Indika's another subsidiary namely Indo Integrated Energy II B.V. also proposed a consent solicitation to change indenture of bonds which mature in 2016.
Each holder of the bonds who approve the indenture change will obtain a consent fee of US$17.5 for every US$1,000 bonds. 

Disclosure: No position at the stock mentioned above.


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