By Rebecca Melvin
New York, May 15 – PT Indonesia Asahan Aluminium (Persero) is listing $2.5 billion of notes in three tranches due 2025, 2030 and 2050, according three Singapore Stock Exchange notices on Friday.
The $1 billion tranche of five-year notes priced with a 4¾% coupon; the $1 billion tranche of 10-year notes priced with a 5.45% coupon; and a $500 million tranche of 30-year notes priced with a 5.8% coupon.
Joint bookrunners of the Rule 144A and Regulation S notes were BNP Paribas, Mandiri Securities Ptd. Ltd., Citigroup Global Markets Singapore Inc., DBS Bank Ltd., Mizuho Securities Asia Ltd., HSBC, Malayan Banking Bhd., MUFG Securities Asia Ltd. and SMBC Nikko Capital Markets Ltd.
Earlier this month, the company announced that it was planning to price benchmark-sized dollar notes. At that time, it said it intended to retain at least $500 million of the proceeds from the sale to acquire shares in mining companies and to refinance its outstanding debt.
The company said it would use the remaining funds to pay the consideration and interest under concurrent tender offers for its 5.23% notes due 2021 and 5.71% notes due 2023.
The new notes’ bond market listing will be effective on Monday.
The Batubara, Indonesia-based company, known as Inalum, is a state-owned aluminum smelter.
| Issuer: | PT Indonesia Asahan Aluminium (Persero)
|
| Amount: | $2.5 billion
|
| Description: | Notes
|
| Joint bookrunners: | BNP Paribas, Mandiri Securities Ptd. Ltd., Citigroup Global Markets Singapore Inc., DBS Bank Ltd., Mizuho Securities Asia Ltd., HSBC, Malayan Banking Bhd., MUFG Securities Asia Ltd. and SMBC Nikko Capital Markets Ltd.
|
| Issue date: | May 15
|
| Listing date: | May 18
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| 2025 bonds
|
| Amount: | $1 billion
|
| Maturity: | 2025
|
| Coupon: | 4¾%
|
|
|
| 2030 bonds
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| Amount: | $1 billion
|
| Maturity: | 2030
|
| Coupon: | 5.45%
|
|
|
| 2050 bonds
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| Amount: | $500 million
|
| Maturity: | 2050
|
| Coupon: | 5.8%
|
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