Perusahaan Gas Negara starts tender offer for 5 1/8% notes due 2024

Chicago, Nov. 28 – PT Perusahaan Gas Negara Tbk. started a capped tender offer for up to $400 million principal amount of its $1.35 billion outstanding 5 1/8% senior notes due 2024 (Cusips: Y7136YAA8, 69367PAA4), according to an announcement.

The early tender offer consideration is $1,005.50 per $1,000 note, inclusive of a $6.00 early consideration that will not be paid to noteholders after the early deadline. Interest will also be paid to the applicable payment date.

The company is using cash on hand to fund the tender offer.

The purpose of the tender offer is to proactively manage the company’s upcoming debt maturities.

Tenders may be prorated.

The early deadline is 5 p.m. ET on Dec. 9.

The offer will expire at 11:59 p.m. ET on Dec. 23.

The early payment date is expected for Dec. 14 and the final payment date is scheduled for Dec. 28.

HSBC Ltd. (+852 3941 0223, +44 20 7992 6237, 888 HSBC-4LM, 212 525-5552, liability.management@hsbcib.com), Mandiri Securities Pte. Ltd. (+65 6589 3880, msliability.mgmt@mandirisek.co.id) and Standard Chartered Bank (+65 6981 8031, +65 6981 8032, liabilitymanagement@sc.com) are the dealer managers.

Kroll Issuer Services Ltd. is the information and tender agent (+44 20 7704 0880, +852 2281 0114, pgn@is.kroll.com, https://deals.is.kroll.com/pgn).

The issuer is a Jakarta, Indonesia-based natural gas transportation and distribution company.

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