Gajah Tunggal to redeem remaining 8 3/8% notes due 2022 on Aug. 10

By Marisa Wong

Los Angeles, June 25 – Indonesia’s PT Gajah Tunggal Tbk. will redeem all of its outstanding 8 3/8% senior secured notes due 2022 (ISIN: XS1655090139) on Aug. 10, according to a notice.

The notes will be redeemed at 102.09375 plus accrued interest to the redemption date.

Deutsche Bank AG, Hong Kong Branch is the paying agent.

As previously reported, the company conducted a tender offer to purchase for cash up to $163 million of the $250 million of outstanding 8 3/8% notes due 2022.

The company offered to pay $1,020.9375 per $1,000 note, plus interest to the settlement date.

The offer began on June 9 and expired at 11 a.m. ET on June 18. Settlement was slated for June 24.

The tender offer was financed through a new issue of $175 million 8.95% notes due 2026.

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

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