Indonesia's Excelcomindo to buy back $122.3 million of its 7 1/8% notes

By Susanna Moon

Chicago, June 30 - Excelcomindo Finance Co. BV and PT Excelcomindo Pratama Tbk. said investors tendered $122.3 million, or 48.9%, of the 7 1/8% guaranteed notes due 2013 issued by Excelcomindo Finance as of 5 p.m. ET on June 27, the tender deadline.

The companies said they received consents from holders of $227.61 million, or 91%, of the notes.

As a result, the companies entered into a supplemental indenture on June 13. The amendments and waivers contained in the supplemental indenture will allow Excelcomindo to sell and transfer its existing wireless communication towers used in Indonesia and some related assets.

The companies began a tender offer for up to $150 million of the notes and a consent solicitation on June 2. The consent deadline was 5 p.m. ET on June 13.

The payment will be $1,010 per $1,000 principal amount of notes. Holders who tendered their notes by the consent deadline will also receive a consent fee of $10 per $1,000 principal amount.

All holders who tendered will receive accrued interest up to but excluding the payment date, which is expected to be July 2.

Goldman Sachs (Singapore) Pte. (852 2978-0672; 44 20 7774-9522; 800 828-3182 or collect at 212 357-0775) is the solicitation agent and dealer manager.

Excelcomindo Pratama is a cellular telephone operator based in Jakarta, Indonesia.

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