By William Gullotti
Buffalo, N.Y., Oct. 27 – PT Indofood CBP Sukses Makmur Tbk. (ICBP), a subsidiary of PT Indofood Sukses Makmur Tbk., issued $1 billion of senior notes in two tranches (Baa3//BBB-), according to listing notices on Wednesday.
The first tranche is $600 million of 3.541% senior bonds due 2032.
The second tranche is $400 million of 4.805% senior bonds due 2052.
Deutsche Bank AG, Singapore Branch, UBS AG Singapore Branch, BNI Securities Pte. Ltd., DBS Bank Ltd., Mandiri Securities Pte. Ltd., Mizuho Securities (Singapore) Pte. Ltd., Natixis Singapore Branch, Oversea-Chinese Banking Corp., Ltd. and SMBC Nikko Securities (Hong Kong) Ltd. are the joint lead managers and joint bookrunners for the offering.
According to Fitch Ratings, proceeds will be used to pay the retention amount of up to $650 million due April 2022 as part of ICBP's acquisition of Pinehill Co. Ltd. The remainder will be for general corporate purposes, including working capital.
Both tranches are expected to be listed on the Singapore Exchange effective Oct. 28.
Based in Jakarta, PT Indofood produces and sells consumers products in Indonesia and internationally.
| Issuer: | PT Indofood CBP Sukses Makmur Tbk.
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| Issue: | Senior bonds
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| Bookrunners: | Deutsche Bank AG, Singapore Branch, UBS AG Singapore Branch, BNI Securities Pte. Ltd., DBS Bank Ltd., Mandiri Securities Pte. Ltd., Mizuho Securities (Singapore) Pte. Ltd., Natixis Singapore Branch, Oversea-Chinese Banking Corp., Ltd. and SMBC Nikko Securities (Hong Kong) Ltd.
|
| Ratings: | Moody’s: Baa3
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| Fitch: BBB-
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| Issue date: | Oct. 27
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| Listing date: | Oct. 28
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|
|
| 2032 bonds
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| Amount: | $600 million
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| Maturity: | April 27, 2032
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| Coupon: | 3.541%
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| ISIN: | XS2399787899
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|
|
| 2052 bonds
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| Amount: | $400 million
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| Maturity: | April 27, 2052
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| Coupon: | 4.805%
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| ISIN: | XS2399788277
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