Indonesia's Arpeni updates results of exchange offer for 8¾% notes

By Marisa Wong

Madison, Wis., Feb. 1 - PT Arpeni Pratama Ocean Line Tbk. said that it accepted $103,195,000 principal amount of its 8¾% guaranteed senior secured notes due 2013 tendered in the previously announced exchange offer that settled on Monday.

The company released the final results of the exchange offer last week, but at that time it announced it had received tenders for $103,395,000 of the notes.

The company issued a total of $113,903,00 of new floating-rate guaranteed secured notes due 2021 in exchange for the 8¾% notes.

In the latest release, the company said it issued $103,195,000 principal amount of the new notes to holders whose tendered notes were accepted in the exchange offer and $10,708,000 principal amount of new notes to holders who did not tender their 8¾% notes.

Arpeni Pratama is a Jakarta, Indonesia-based ocean shipping firm.

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