Singapore's Altus Capital gets consents to amend 12 7/8% senior notes

By Marisa Wong

Madison, Wis., June 23 - Altus Capital Pte. Ltd. announced that at a June 23 meeting holders of its outstanding 12 7/8% senior secured notes due 2015 guaranteed by PT Chandra Asri Petrochemical Tbk., PT Styrindo Mono Indonesia and PT Petrokimia Butadiene Indonesia passed an extraordinary resolution to amend the notes.

Altus Capital began a consent solicitation to amend the terms and conditions of the outstanding 12 7/8% notes on June 1.

The company entered into a supplemental trust deed effecting the changes on June 23.

DBS Bank Ltd. (+65 6878 7145) and Deutsche Bank AG, Singapore Branch (+ 65 6423 8581 or +44 20 7547 5484) were the solicitation agents, and Lucid Issuer Services Ltd. (+44 20 7704 0880) was the tabulation agent.

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

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