Published on 10/14/2020 in the Prospect News Emerging Markets Daily and Prospect News Green Finance Daily.
New Issue: Salak-Darajat units sell $1.11 billion notes due 2029, 2038
By Marisa Wong
Los Angeles, Oct. 14 – Star Energy Geothermal (Salak-Darajat) Restricted Group (SEGSD RG) wholly owned subsidiaries Star Energy Geothermal Darajat II, Ltd. and Star Energy Geothermal Salak, Ltd. issued $320 million of 3¼% senior secured notes due 2029, according to a notice.
The companies also issued $790 million of 4.85% senior secured notes due 2038, according to a separate notice.
Credit Suisse, DBS Bank Ltd., Deutsche Bank are the bookrunners for the 2029 notes. Credit Suisse, DBS Bank, Deutsche Bank, Barclays and BPI Capital Corp. are bookrunners for the 2038 notes.
The geothermal company operates in Indonesia.
| Issuers: | Star Energy Geothermal Darajat II, Ltd. and Star Energy Geothermal Salak, Ltd.
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| Issue: | Senior secured notes
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| Amount: | $1.11 billion
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| Settlement date: | Oct. 14
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| Ratings: | Moody’s: Baa3
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| Fitch: BBB-
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| Distribution: | Regulation S and Rule 144A
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|
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| 2029 notes
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| Amount: | $320 million
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| Maturity: | April 14, 2029
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| Bookrunners: | Credit Suisse, DBS Bank Ltd., Deutsche Bank
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| Coupon: | 3¼%
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|
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| 2038 notes
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| Amount: | $790 million
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| Maturity: | Oct. 14, 2038
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| Bookrunners: | Credit Suisse, DBS Bank Ltd., Deutsche Bank, Barclays and BPI Capital Corp.
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| Coupon: | 4.85%
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