By Paul A. Harris
St. Louis, Feb. 9 - Indonesia's Star Energy Geothermal (Wayang Windu) Ltd. has priced a $350 million issue of five-year notes (B2//B+) at par to yield 11½%, according to a market source.
Barclays Capital, Standard Chartered Bank and Nomura are leading the deal.
Proceeds will be used to refinance bank debt and to fund an interest reserve account for the bond, with any excess proceeds to partially fund developmental costs related to the proposed Unit 3 expansion.
Star Energy Geothermal is an Indonesian geothermal energy company.
| Issuer: | Star Energy Geothermal (Wayang Windu) Ltd.
|
| Amount: | $350 million
|
| Term: | Five years
|
| Securities: | Notes
|
| Bookrunners: | Barclays Capital, Standard Chartered Bank, Nomura
|
| Coupon: | 11½%
|
| Price: | Par
|
| Yield: | 11½%
|
| Ratings: | Moody's: B2
|
| Fitch: B+
|
| Distribution: | Rule 144A/Regulation S
|
| Price talk: | 11½% area
|
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