By Cady Vishniac
Detroit, Nov. 2 – PT Alam Sutera Realty Tbk. issued $422.4 million of senior secured notes in two tranches, $171.4 million of 6% notes due 2024 and $251 million of 6¼% notes due 2025 (CCC), according to a listing notice.
The notes were issued as the result of a previously reported distressed exchange by the issuer.
The principal paying agent is Bank of New York Mellon, London Branch. The lead managers and bookrunners are J.P. Morgan (S.E.A.) Ltd. and UBS AG Singapore Branch.
The listing is expected to take effect Tuesday.
Alam Sutera is a property developer based in Tangerang, Indonesia.
| Issuer: | PT Alam Sutera Realty Tbk.
|
| Issue: | Notes
|
| Amount: | $422.4 million
|
| Bookrunners: | Bank of New York Mellon, London Branch, J.P. Morgan (S.E.A.) Ltd. and UBS AG Singapore Branch
|
| Issue date: | Nov. 2
|
| Listing date: | Nov. 3
|
| Rating: | S&P: CCC
|
|
|
| 2024 notes
|
| Issue: | Senior secured notes
|
| Amount: | $171,397,000
|
| Maturity: | 2024
|
| Coupon: | 6%
|
|
|
| 2025 notes
|
| Issue: | Notes
|
| Amount: | $251,003,000
|
| Maturity: | 2025
|
| Coupon: | 6¼%
|
|
|
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