Indonesia's Indika Energy announces consent solicitation for 8½% notes

By Angela McDaniels

Tacoma, Wash., Sept. 17 - PT Indika Energy Tbk. said its subsidiary, Indo Integrated Energy BV, has begun a consent solicitation for its $250 million of 8½% senior notes due 2012.

The subsidiary is seeking amendments to the terms of the indenture and a waiver. Further details are available only to noteholders, according to a company news release.

Consents are needed from holders of a majority of the notes.

Holders who consent will receive a cash payment of $20 for each $1,000 principal amount of notes.

The consent solicitation will end on Sept. 30, and the consent fee will be paid on Oct. 5.

The solicitation agent is Citigroup Global Markets Ltd. (+44 20 7986 9000, 212 723-6108, 800 558-3745 or +852 2501 2552). The information agent is Citibank, NA, London Branch (+44 20 7508 3867).

Indika is an energy company based in Jakarta, Indonesia.

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