Indo Energy to repurchase debt notes

By Ruli Setiawan

Indo Energy Finance B.V., a wholly owned subsidiary of IDX-listed integrated energy company PT Indika Energy Tbk announced Monday its offer to repurchase for cash up to US$100 million in principal amount of its outstanding $300 million 7.00% senior notes due 2018.

?The offer is designed to reduce the company?s overall indebtedness,? Indo Energy said in a statement.

The company said it believes that the offer provides an opportunity to holders of the notes to gain liquidity with respect to the notes (by tendering their notes for purchase by the company) that might not otherwise be available to such note holders.

Indo Energy said the offer will expire at 5:00 p.m. (New York City time) on December 21, 2015, unless extended by the company. Note holders may participate in the offer by validly tendering and not validly withdrawing their notes at or before the expiration date.

Note holders who validly tender notes not validly withdrawn at or before 5:00 p.m. (New York City time) on December 7, 2015 will be entitled to receive more consideration, equal to the early tender premium, than Noteholders who validly tender their notes after the early tender deadline but at or before the expiration date, the company added.

The company has appointed Deutsche Bank AG, Singapore Branch as sole dealer manager and D.F. King & Co., Inc. as the tender and information agent for the offer. Requests for documents or procedures for participating in the offer may be directed to the tender and information agent. Any other questions or requests for assistance regarding the offer may be directed to the sole dealer manager.

Editing by Reiner Simanjuntak