By Rebecca Melvin
New York, Dec. 14 – Indus Gas Ltd. has priced $150 million of notes due 2022 at par with an 8% coupon, according to a company news release.
The Regulation S notes are guaranteed by iServices Investments Ltd. and Newbury Oil Co. Ltd. and represent the second tranche sold under the company’s $300 million medium-term note program. The company also sold S$100 million of three-year notes in 2015.
The new deal is non-callable until Dec. 13, 2018 and have a change-of-control put.
Proceeds will be used for general corporate purposes.
The bonds will be listed on the Singapore Exchange Securities Trading Ltd.
Indus Gas is an oil and gas exploration and development company with assets in India. It is based in St. Peter Port, Guernsey, with an office in London.
| Issuer: | Indus Gas Ltd.
|
| Guarantors: | iServices Investments Ltd. and Newbury Oil Co. Ltd.
|
| Issue: | Senior unsecured notes
|
| Amount: | $150 million
|
| Maturity: | Dec. 13, 2022
|
| Dealer: | Phillip Securities Pte. Ltd.
|
| Coupon: | 8%
|
| Price: | Par
|
| Yield: | 8%
|
| Calls: | Non-callable until Dec. 13, 2018
|
| Change-of-control put: | Yes
|
| Settlement date: | Dec. 13
|
| Distribution: | Regulation S
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
