By Christine Van Dusen
Atlanta, April 24 – Indonesia’s PT Pelabuhan Indonesia II (Persero) (Pelindo II) priced a combined $1.6 billion of notes due 2025 and 2045 (expected ratings: Baa3/BB+/BBB-) in two tranches, a market source said.
The $1.1 billion 4¼% 10-year notes priced at 98.996 to yield 4 3/8% after talk in the 4 5/8% area.
The $500 million 5 3/8% 30-year notes priced at 98.174 to yield 5½% after talk in the 5 5/8% area.
ANZ, BNP Paribas, Citigroup, Bahana Securities and Danareska Sekuritas were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used to fund expansion, to refinance a syndicate loan and for general corporate purposes.
The issuer is a Surabaya, Indonesia-based provider of port service facilities.
| Issuer: | PT Pelabuhan Indonesia II (Persero) (Pelindo II)
|
| Amount: | $1.6 billion
|
| Description: | Senior notes
|
| Bookrunners: | ANZ, BNP Paribas, Citigroup, Bahana Securities, Danareska Sekuritas
|
| Trade date: | April 23
|
| Settlement date: | May 5
|
| Expected ratings: | Moody’s: Baa3
|
| Standard & Poor’s: BB+
|
| Fitch: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| 10-year notes
|
| Amount: | $1.1 billion
|
| Maturity: | May 5, 2025
|
| Coupon: | 4¼%
|
| Price: | 98.996
|
| Yield: | 4 3/8%
|
| Price talk: | 4 5/8% area
|
|
|
| 30-year notes
|
| Amount: | $500 million
|
| Maturity: | May 5, 2045
|
| Coupon: | 5 3/8%
|
| Price: | 98.174
|
| Yield: | 5½%
|
| Price talk: | 5 5/8% area
|
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