By Rebecca Melvin
New York, Jan. 26 – Soechi Capital Pte. Ltd., a subsidiary of PT Soechi Lines Tbk., priced $200 million of 8 3/8% five-year senior notes (expected ratings: B1//BB) at par, according to a news release.
CLSA, Emirates NBD Capital, JPMorgan, Mandiri Securities and Standard Chartered were the joint global coordinators of the Regulation S deal.
Proceeds will be used to repay $184 million of debt, to fund the interest reserve account and for other corporate purposes.
Application has been made to list the securities on the Singapore Exchange Trading Ltd.
Based in Jakarta, Indonesia, Soechi Lines is a shipbuilding and repair company.
| Issuer: | Soechi Capital Pte. Ltd.
|
| Guarantor: | P Soechi Lines Tbk. and subsidiaries
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| Issue: | Guaranteed senior notes
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| Amount: | $200 million
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| Maturity: | Jan. 31, 2023
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| Bookrunners: | CLSA, Emirates NBD Capital, JPMorgan, Mandiri Securities and Standard Chartered
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| Coupon: | 8 3/8%
|
| Price: | Par
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| Yield: | 8 3/8%
|
| Settlement date: | Jan. 31
|
| Ratings: | Moody’s: B1
|
| Fitch: BB
|
| Distribution: | Regulation S
|
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