Tunas Baru Lampung’s TBLA announces oversubscribed tender results

Chicago, June 24 – PT Tunas Baru Lampung Tbk. subsidiary TBLA International Pte. Ltd. announced the results of its tender offer for up to $35 million of its outstanding $250 million 7% guaranteed senior notes due 2023 (ISIN: XS1750550029), according to an announcement.

The offer was oversubscribed, and the issuer will maintain the cap for $35 million.

Tenders will be prorated.

As previously announced, the company is offering to buy the notes for $965 per $1,000 note. Interest to the settlement date will also be paid.

The offer expired at 11 a.m. ET on June 22.

Settlement is planned for June 29.

The company will pay $34,829,861.20 to buy the notes. Funds from a $50 million term loan from Bank Mandiri and internal cashflow from the parent guarantor will be used to purchase the notes.

Mandiri Securities Pte. Ltd. is the dealer manager (+65 6589 3880, msliability.mgmt@mandirisek.co.id).

Lucid Issuer Securities Ltd. is the tender and information agent (+44 20 7704 0880, +852 2281 0114, tbla@lucid-is.com, https://deals.lucid-is.com/tbla).

The Indonesian issuer is a conglomerate with a special focus on vegetable oils, sugar and agriculture.

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