Indonesia's PT Indika to sell $250 million five-year bullets via JP Morgan, ING

By Reshmi Basu

New York, April 24 - PT Indika Inti Energi (Indika) plans to sell a $250 million offering of five-year bullet bonds, according to a market source.

Investor presentations will start in Hong Kong on Wednesday, in Singapore on Thursday and will wrap up in London on Friday.

Proceeds from the sale will be used for refinancing, to fund expansion and energy production projects, for working capital and for general corporate purposes.

JP Morgan and ING are lead managers for the Regulation S deal, which will be issued via Indo Integrated Energy BV.

PT Indika Inti Energi and PT Indika Inti Corpindo will guarantee the offering of senior fixed-rate notes.

Indika is an Indonesian integrated energy group and coal producer.

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