Singapore's Altus Capital buys back $2 million of 12 7/8% notes

By Marisa Wong

Madison, Wis., Nov. 10 - Altus Capital Pte. Ltd. announced that it has purchased $2 million of its outstanding 12 7/8% senior secured guaranteed notes due 2015 as of Oct. 3. The notes were purchased through open-market transactions.

Altus Capital requested on Nov. 9 that the purchased notes be canceled. Following the cancellation, the outstanding principal amount of the notes will be $212.78 million.

The notes are guaranteed by PT Chandra Asri Petrochemical Tbk., PT Styrindo Mono Indonesia and PT Petrokimia Butadiene Indonesia.

DB Trustees (Hong Kong) Ltd. is the trustee.

Altus Capital is a Singapore-based subsidiary of Chandra Asri Petrochemical, which is a Jakarta, Indonesia-based supplier of petrochemical products to Indonesian manufacturing industries.

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