By Christine Van Dusen
Atlanta, June 25 – Indonesia’s PT Pakuwon Jati Tbk. – through Pakuwon Prima Pte. Ltd. – sold $168 million five-year notes at par to yield 7 1/8% on Wednesday, a market source said.
Standard Chartered Bank and UBS were the bookrunners for the Regulation S deal.
The proceeds will be used for debt refinancing, acquisition transactions and working capital purposes.
The issuer is a Jakarta-based real estate developer and manager.
| Issuer: | Pakuwon Prima Pte. Ltd.
|
| Amount: | $168 million
|
| Maturity: | July 2, 2019
|
| Description: | Senior notes
|
| Bookrunners: | Standard Chartered Bank, UBS
|
| Co-manager: | PT Mandiri Sekuritas
|
| Coupon: | 7 1/8%
|
| Price: | Par
|
| Yield: | 7 1/8%
|
| Trade date: | June 25
|
| Settlement date: | July 2
|
| Expected ratings: | Moody’s: B1
|
| Standard & Poor’s: B+
|
| Fitch: B+
|
| Distribution: | Regulation S
|
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