Indika?s dollar bonds oversubscribed by 4.5 times

IDX-listed energy company PT Indika Energy Tbk has raised US$265 million in proceeds from issuing dollar bonds, which were oversubscribed by 4.5 times, Kontan reported on Wednesday.

The paper said that demand for the US dollar-denominated bonds reached up to $1.2 billion. ?The bond issue marks the return of Indika to the debt market (for the first time) after four years,? said Arsjad Rasjid, President Director of Indika on Tuesday.

Proceeds from the bonds, with a tenor of five years and coupon rate of 6.875 percent, will be used to refinance maturing debts, one of which is bonds worth $115 million maturing in May 2018. (*)