New York, March 23 – Japfa Ltd. said that its PT Japfa Comfeed Indonesia Tbk. subsidiary priced at $150 million offering of 5½% senior notes due 2022 (/BB-/BB-).
Credit Suisse Singapore Ltd. is the bookrunner, according to a company announcement.
The covenants include a requirement that Handojo Santosa and his affiliates, including spouses, children and family trusts, remain the largest owners of Japfa’s shares.
Japfa operates farms, industrial food processing and distribution facilities for dairy, animal protein and consumer food. It is headquartered in Singapore. Japfa Comfeed is based in Sidoarjo, Indonesia and is active in animal feed manufacturing, chicken breeding, poultry processing and aquaculture farming.
| Issuer: | PT Japfa Comfeed Indonesia Tbk.
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| Issue: | Senior notes
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| Amount: | $150 million
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| Maturity date: | 2022
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| Coupon: | 5½%
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| Pricing date: | March 23
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| Ratings: | S&P: BB-
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| Fitch: BB-
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| Bookrunner: | Credit Suisse Singapore Ltd.
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