Chicago, March 18 – PT Japfa Comfeed Indonesia Tbk. sold its first sustainability-linked bond (BB-/BB-) for $350 million with a 5 3/8% coupon that matures in 2026, according to a press release.
The issue was over 3x oversubscribed.
Credit Suisse and DBS Bank Ltd. are joint global coordinators and joint sustainability-linked bond structuring advisers.
Proceeds will be used to repay the existing $250 million of notes due 2022 and for general corporate purposes, including but not limited to capex, working capital and debt refinancing.
The issuer is an Indonesian-based agri-food company with headquarters in Jakarta.
| Issuer: | PT Japfa Comfeed Indonesia Tbk.
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| Issue: | Senior fixed-rate sustainability-linked bond
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| Amount: | $350 million
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| Maturity: | March 23, 2026
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| Bookrunners: | Credit Suisse and DBS Bank Ltd.
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| Coupon: | 5 3/8%
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| Trade date: | March 16
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| Settlement date: | March 23
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| Ratings: | S&P: BB-
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| Fitch: BB-
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