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Indonesia’s Protelindo obtains consents to replace issuer of 3¼% bonds
By Marisa Wong
Morgantown, W.Va., July 26 – Protelindo Finance BV said that holders of its 3¼% senior guaranteed bonds due 2024 consented to proposed amendments to the bonds.
Holders representing 93.33% of the aggregate principal amount of the bonds voted in favor of the extraordinary resolutions presented at the bondholders’ meeting held on July 22.
As announced on June 30, the company sought consents from holders of its S$180 million 3¼% bonds to amend the terms and conditions of the bonds in order to replace Protelindo Finance with parent company PT Profesional Telekomunikasi Indonesia Tbk. as the issuer.
Holders who delivered their consents by 11 a.m. ET on July 19 will be eligible to receive a 0.15% consent fee, according to a previous notice.
Settlement is expected to occur on July 29.
The bonds are guaranteed by Credit Guarantee and Investment Facility, a trust fund of the Asian Development Bank.
D.F. King (+44 20 7920 9700 in London and +852 3953 7230 in Hong Kong, protelindo@dfkingltd.com) is the information and tabulation agent.
The parent company is a Jakarta-based builder and operator of cellphone towers.
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