By Kenneth Lim
Boston, May 9 - Indonesia's PT Berlian Laju Tanker Tbk. priced $125 million of five-year zero-coupon convertible bonds on Wednesday to yield 5.25% with an initial conversion premium of 47.5% over its Singapore-listed common stock's volume-weighted average price on Tuesday.
The convertibles were offered at par.
Deutsche Bank and JP Morgan were the lead managers of the Regulation S offering.
The convertibles may be put in the third year.
PT Berlian, a Jakarta-based liquid cargo shipping company, did not say how it will use the proceeds of the offering.
| Issuer: | PT Berlian Laju Tanker Tbk.
|
| Issue: | Convertible bonds
|
| Bookrunner: | Deutsche Bank and JP Morgan
|
| Amount: | $125 million
|
| Maturity: | May 17, 2012
|
| Coupon: | 0%
|
| Price: | Par
|
| Yield: | 5.25%
|
| Conversion premium: | 47.5%
|
| Conversion price: | S$0.4965
|
| Pricing date: | May 9
|
| Settlement date: | May 17
|
| Distribution: | Regulation S
|
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