| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers K > Headlines for Kawasan Industri Jababeka Tbk. > News item |
Indonesia’s Jababeka holders exchange 63.6% of 7½% notes by early date
By Susanna Moon
Chicago, Sept. 29 – PT Kawasan Industri Jababeka Tbk. said investors had tendered for exchange $165,383,000, or 63.6%, of the $260 million of 7½% guaranteed senior notes due 2019 issued by subsidiary Jababeka International BV as of 11:59 p.m. ET on Sept. 27, the early exchange date, according to a company update.
Holders had also given consents for $55,342,000, or 21.3%, of notes as of the early deadline.
In exchange, Jababeka is offering to issue new dollar-denominated guaranteed senior notes due 2023, with a coupon set at 6½% on Sept. 28.
The total exchange value will be $1,075 for each $1,000 principal amount of notes tendered by the early deadline.
The repurchase premium was set at $45 per $1,000 principal amount, the early exchange fee at $25 per $1,000 of notes and the consent fee at $5 per $1,000 of notes.
Holders who tender by the early exchange deadline will receive an early exchange fee.
The exchange will continue until 11:59 p.m. ET on Oct. 12.
The consent solicitation ended at 11:59 p.m. ET on Sept. 27 and holders who delivered consents will receive a fee.
At the same time, the company also is offering $20,617,000 of notes to new investors for cash, with a coupon of 6½%, with settlement on Oct. 19.
As announced Sept. 14, the new notes for cash will form a single series with the notes offered in the exchange.
JPMorgan Securities plc, Standard Chartered Bank and UBS AG, Hong Kong Branch are joint lead managers for the sale of new notes for cash.
The exchange is only open to eligible holders, but all holders may participate in the consent solicitation.
D.F. King (212 269-5550, +852 3953 7230, +44 207 920 9700 or jababeka@dfkingltd.com) is information agent and exchange agent.
Jababeka is a developer based in Bekasi, Indonesia.
© 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.