Tunas Baru Lampung’s TBLA gives results of offer to buy up to $35 million of 7% notes

By Rebecca Melvin

Concord, N.H., June 28 – PT Tunas Baru Lampung Tbk. subsidiary TBLA International Pte. Ltd. said that it will make a payment of $34,829,861.20 in aggregate to holders of its 7% guaranteed senior notes due 2023 (ISIN: XS1750550029), according to a release.

It received validly tendered notes in excess of its offer cap by expiration of the offer on June 22, and prorated acceptance of the notes in accordance with the mechanism in its June 15 offer.

Payment for the notes is being made at $965 plus accrued interest of $30.138889 for each $ 1,000 in principal amount of notes.

The payment will be made on June 29.

TBLA will also cancel an additional $17 million of notes, which the company bought back in the open market.

Combined with the notes purchased from the tender offer exercise, TBLA will cancel an aggregate of $52 million in principal amount of the notes, leaving $198 million of the issue outstanding.

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

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