By William Gullotti
Buffalo, N.Y., Dec. 22 – Indonesia’s JGC Ventures Pte. Ltd., a wholly owned subsidiary of PT Modernland Realty Tbk., priced $179.16 million of 3% guaranteed senior notes due 2025, according to a listing notice on Wednesday.
Bank of New York Mellon is the principal paying agent.
Listing for the notes is expected on the Singapore Exchange effective Dec. 23.
Modernland Realty is an Indonesian property developer. JGC Ventures completed restructuring effective Dec. 17.
| Issuer: | JGC Ventures Pte. Ltd.
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| Guarantor: | PT Modernland Realty Tbk.
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| Amount: | $179.16 million
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| Issue: | Guaranteed senior notes
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| Maturity: | June 30, 2025
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| Coupon: | 3%
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| Pricing date: | Dec. 17
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| Listing date: | Dec. 23
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| ISIN: | XS1871087133
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