Magma calls $150 million 12½% step-down bonds

By Susanna Moon

Chicago, June 8- Magma Nusantara Ltd. said it would redeem all $150 million of its 12½% secured step-down bonds due 2015.

The redemption will occur on June 12.

The company issued the 10-year bonds in December 2005.

The coupon step-down is to 11½%. The bonds were callable beginning January 2006 at par.

Magma Nusantara is an Indonesian developer of geothermal projects based in Jakarta.

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