New Issue: Indonesia's Bakrie Sumatra Plantations sells $110 million 10¾% five-year notes to yield 11.278%

By Paul A. Harris

St. Louis, Oct. 5 - BSP Finance BV, a wholly owned subsidiary of Indonesian rubber and palm oil producer PT Bakrie Sumatra Plantations Tbk., priced a $110 million issue of 10¾% five-year senior secured notes (B2/B) at 98.00 to yield 11.278% on Thursday, according to an informed source.

Jefferies & Co. and PT Danatama Makmur were joint bookrunners for the Regulation S transaction.

Proceeds will be used to repay debt, for working capital and for general corporate purposes.

Issuer:	BSP Finance BV (PT Bakrie & Brothers Tbk.)
Face amount:	$110 million
Proceeds:	$107.8 million
Maturity:	Nov. 1, 2011
Security description:	Senior secured notes
Bookrunners:	Jefferies & Co., PT Danatama Makmur
Coupon:	10¾%
Price:	98.00
Yield:	11.278%
Spread:	675 bps
Call features:	Callable on or after Nov. 1, 2009 at 105.375, 102.688, par on Nov. 1, 2011
Equity clawback:	Until Nov. 1, 2009 for 35% at 110.75
Trade date:	Oct. 5
Settlement date:	Oct. 17
Ratings:	Moody's: B2
	Standard & Poor's: B
Distribution:	Regulation S

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