By Paul A. Harris
St. Louis, April 25 - Arpeni Pratama Ocean Line Investment BV has priced a $160 million issue of 8¾% seven-year senior notes (/BB+/BB-) at 98.976 to yield 8.95%, according to an informed source.
The yield came inside of the 9 1/8% area price talk.
Citigroup ran the books for the Rule 144A and Regulation S issue.
Proceeds will be used to repay debt and fund capital expenditures.
The issuing entity is a special purpose vehicle of PT Arpeni Pratama Ocean Line Tbk., a Jakarta, Indonesia-based ocean-going shipping firm.
| Issuer: | Arpeni Pratama Ocean Line Investment BV
|
| Amount: | $160 million
|
| Maturity: | May 3, 2013
|
| Security description: | Senior notes
|
| Bookrunner: | Citigroup
|
| Coupon: | 8¾%
|
| Price: | 98.976
|
| Yield: | 8.95%
|
| Spread: | 401.4 bps
|
| Call features: | Callable on and after May 3, 2010 at 104.375, 102.188, par on and after May 3, 2012
|
| Trade date: | April 25
|
| Settlement date: | May 3
|
| Ratings: | Standard & Poor's: BB+
|
| Fitch: BB-
|
| Distribution: | Rule 144A/Regulation S
|
| Price talk: | 9 1/8% area
|
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