Indonesia's Listrik Negara begins cash tender for three note series

By Susanna Moon

Chicago, April 25 – PT Perusahaan Listrik Negara is tendering for three series of notes issued by Majapahit Holding BV and guaranteed by the company until 5 p.m. ET on May 4.

The cash purchase price for each $1,000 principal amount will be as follows:

• $1,066.75 for the $750 million 8% notes due August 2019;

• $1,074 for the $1.25 billion 7¾% notes due January 2020; and

• $1,295 for the $500 million 7 7/8% notes due June 2037.

Holders also will receive accrued interest to but excluding the payment date of May 9.

The tender offers are part of a refinancing that will include a concurrent offering of new debt securities, according to a company announcement.

If the financing is insufficient to fully fund the offer, the company said it will accept for purchase all notes of each series 2 notes tendered under acceptance priority levels.

Tendered notes may be withdrawn at any time before the offer ends.

Citigroup Global Markets Inc. (212 723 6106 or +852 2501 2693), Hongkong and Shanghai Banking Corp. Ltd. (+852 2822 4100, +44 20 7992 6237 or 212 525 5552), Mandiri Securities Pte. Ltd. (+65 6589 3880) and Standard Chartered Bank (852 3983 8369, +65 6557 8289, +44 20 7885 5739 or 212 667 0351) are the dealer managers.

D.F. King (212 269 5550, toll free: +1 866 864 7964, +44 20 7920 9700, +852 3953 7230, pln@dfkingltd.com or https://sites.dfkingltd.com/pln) is the information and tender agent.

PLN is a state-owned electricity company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.