Saka Energi Indonesia tenders for up to $200 million of 2024 notes

By Marisa Wong

Los Angeles, July 6 – PT Saka Energi Indonesia has begun an offer to purchase for cash up to $200 million of its $376,252,000 outstanding 4.45% senior notes due 2024 (ISIN: USY7140VAA80, US69371EAA38), according to a press release.

The company is offering a total consideration of $992.50 per $1,000 principal amount.

The total consideration includes an early tender premium of $7.50 per $1,000 of notes tendered by the early tender time.

Holders tendering after the early deadline will only be eligible to receive the tender offer consideration of $985 per $1,000 principal amount.

The company will also pay accrued interest.

Tenders may be subject to proration.

The early tender time is 5 p.m. ET on July 19, also the withdrawal deadline.

Early results will be announced on July 20.

Early settlement will occur on July 21.

The offer expires at 5 p.m. ET on Aug. 2.

Final results will be announced on Aug. 3.

Final settlement is slated for Aug. 4.

BNP Paribas (+65 6210 3322, +44 20 7595 8668), Mandiri Securities Pte. Ltd. (+65 6589 3880) and Standard Chartered Bank (+65 6557 8252, +44 20 7885 5739, 212 667 0351) are dealer managers for the tender offer.

The information and tender agent is Kroll Issuer Services Ltd. (https://deals.is.kroll.com/saka; +44 20 7704 0880, +852 2281 0114; saka@is.kroll.com).

The company said the purpose of the tender offer is to proactively manage its upcoming debt maturity.

Saka Energi is the upstream arm of natural gas transportation and distribution company PT Perusahaan Gas Negara (Persero) Tbk. The issuer is based in Jakarta, 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.