Indonesian cocoa producer Davomas talks $150 million five-year notes at 10¼%-10½%

By Paul A. Harris

St. Louis, Jan. 23 - P.T. Davomas Abadi TBK is talking its $150 million offering of five-year senior unsecured notes at 10¼% to 10½%, according to market sources.

The notes (B2/B+) are expected to price in the middle of the present week.

Lehman Brothers has the books for the Rule 144A and Regulation S notes, which come with three years of call protection.

Proceeds will be used to refinance all of the company's existing debt as well as to fund capital expenditures and for general corporate purposes.

Davomas is a Jakarta, Indonesia-based producer and exporter of cocoa butter and cocoa powder.

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