Indonesia's Listrindo opts to settle tender offer for 9¼% notes early

By Marisa Wong

Madison, Wis., Feb. 14 - Listrindo Capital BV said it has decided to exercise the early settlement option of the cash tender offer and consent solicitation for its 9¼% senior notes due 2015.

The early settlement date is Feb. 21. The tender offer was originally scheduled to expire at 11:59 p.m. ET on Feb. 27.

As previously announced, holders tendered 93.33% of the outstanding principal amount of the 9¼% senior notes as of 5 p.m. ET on Feb. 10, the early deadline for the tender offer that began on Jan. 30.

Holders also delivered their consents to proposed amendments to the indenture governing the 9¼% notes. The company received the needed consents to eliminate substantially all of the restrictive covenants, some events of default and other provisions in the original indenture.

Holders who tendered their notes and delivered their consents by the early deadline will receive the total consideration of $1,107.50 per $1,000 principal amount of notes. The total consideration includes a $30.00 early consent payment.

The company will also pay accrued interest to but excluding the settlement date.

Barclays Capital (+44 20 7773 8990, +65 6308 3342, 800 438-3242 or 212 528-7581) and Credit Suisse (+44 20 7883 8763) are the dealer managers and consent solicitation agents, and D.F. King & Co. Inc. (212 269-5550 for banks and brokers or 800 714-3312 for all others) is the depositary and information agent.

Listrindo Capital is a subsidiary of PT Cikarang Listrindo, a Jakarta, Indonesia-based power company.

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