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Indonesia's Indika Energy unit gets needed consents to amend 8½% notes
By Marisa Wong
Madison, Wis., March 23 - PT Indika Energy Tbk. wholly owned subsidiary Indo Integrated Energy BV announced the results of the consent solicitation for all $250 million of its outstanding 8½% senior notes due 2012.
The company solicited consents to a proposed amendment to a certain term of the indenture governing the notes.
The solicitation began on March 9 and expired at 11 a.m. ET on March 22.
As of the expiration date, Indo Integrated Energy received consents from holders of $214.8 million, or 87.52%, of all outstanding notes.
Because the issuer received the necessary consents from holders of a majority in principal amount of the notes, a second supplemental indenture was executed on March 22.
The issuer will pay in cash a consent fee of $2 for each $1,000 of notes to holders who delivered their consents by the expiration date.
HSBC Institutional Trust Services (Singapore) Ltd. is the trustee for the notes. The parent company and PT Indika Inti Corpindo are the guarantors.
Citigroup Global Markets Ltd. (212 723-6108 or 800 558-3745) acted as the solicitation agent. D. F. King & Co. (212 269-5550, for banks and brokers, or 800 859-8511) was the information and tabulation agent.
Indika is a Jakarta, Indonesia-based integrated energy company.
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