PT Gajah begins consent solicitation on 8 3/8% senior notes due 2022

By Taylor Fox

New York, Feb. 1 – PT Gajah Tunggal Tbk commenced a consent solicitation to approve certain proposed amendments to its indenture governing its 8 3/8% senior secured notes due 2022 (ISIN: XS1655090139), according to a notice.

The proposed amendments would modify the restrictions on the incurrence of additional debt to permit the company to incur and secure additional debt for the purpose of refinancing the issuer’s existing senior secured loan facilities.

The amendments requite the consent of the holders of a majority of the $250 million notes outstanding.

Holders who validly deliver consents will receive a cash payment of $3 per $1,000 of notes.

The deadline to deliver consents is 11 a.m. ET on Feb. 17.

The settlement date is expected for Feb. 22.

Credit Suisse (Singapore) Ltd. (+65 6212 8226, +852 2101 7700) and Deutsche Bank AG, Singapore Branch (+65 6423 7959, +44 020 7545 9031) are the solicitation agents.

D.F. King (+44 20 7920 9700, +852 3953 7208; gt@dfkingltd.com, https://sites.dfkingltd.com/gt) is the information and tabulation agent.

PT Gajah is a synthetic rubber manufacturing company based in Jakarta.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.