Indonesia’s ABM Investama sets tender cap for 7 1/8% notes due 2022

By Marisa Wong

Los Angeles, July 30 – PT ABM Investama Tbk. announced that the tender cap for its cash tender offer for its 7 1/8% senior notes due 2022 (ISIN: US69379AAA34, USY708CHAA88) will be $190,296,000.

The tender cap was set equal to the net proceeds from the company’s concurrent issuance of new dollar-denominated notes due 2026, according to a company announcement on Friday.

There was $350 million principal amount of the 7 1/8% notes due 2022 outstanding at the start of the offer.

As announced on July 21, the company is offering to pay par plus accrued interest plus an early tender payment of $17.81 per $1,000 note tendered by 5 p.m. ET on Aug. 3, the early tender deadline. The early settlement date is Aug. 6.

The tender offer expires at 5 p.m. ET on Aug. 18, and settlement of any notes tendered after the early deadline and accepted for purchase is expected to occur on Aug. 23.

Deutsche Bank AG, Singapore Branch (liability_management_sea@list.db.com) and Mandiri Securities Pte. Ltd. (msliability.mgmt@mandirisek.co.id) are the dealer managers of the tender, and Morrow Sodali Ltd. (+44 20 4513 6933, +852 2319 4130, 203 609-4910) is the information and tender agent.

The energy resources, services and infrastructure company is based in South Jakarta, Indonesia.

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