Indonesia’s Alam Synergy begins Dutch auction tender for 2022 notes

Chicago, June 17 – Alam Synergy Pte. Ltd. has invited holders of its 6 5/8 senior notes due 2022 (ISIN: XS1504809499) to tender their notes up to a maximum principal amount of $20 million of the $46,579,000 notes outstanding, according to a notice.

The notes are guaranteed by parent company PT Alam Sutera Realty Tbk.

The tender offer is being conducted by modified Dutch auction, with a minimum purchase price of 95 and a maximum purchase price of par.

Noteholders may either submit a non-competitive tender instruction, which would mean that they submit a tender instruction without a price or below the minimum purchase price, or a competitive tender instructions with a purchase price between the minimum amount and the maximum amount. Purchase prices must be in increments of 0.5%.

Tenders may be subject to proration, with non-competitive tenders generally given acceptance priority before competitive tenders.

The expiration deadline is 11 a.m. ET on June 29.

The company is conducting the tender offer to actively mange its balance sheet liabilities while optimizing its costs of financing.

Pricing will take place on June 30.

Settlement is planned for July 7.

J.P. Morgan (S.E.A.) Ltd. is the dealer manager (DCM_SEA@jpmorgan.com).

The information and tender agent is Bank of New York Mellon, London Branch (debtrestructuring@bnymellon).

Alam Sutera is a property developer based in Tangerang, Indonesia.

© 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.