09 Nov 2020
PT Alam Sutera Realty Tbk’s exchange offer
Partner Putu Suryastuti and Senior Associate, Inda Ranadireksa from Assegaf Hamzah & Partners acted as Indonesian counsel to J.P. Morgan (S.E.A) Limited and UBS AG, Singapore Branch, as the dealer managers, on the PT Alam Sutera Realty Tbk’s exchange of two series of US dollar denominated notes amounting to USD 115 million and USD 370 million. The issuance is an exchange offer of its existing notes amounting to USD 115 million 11.5% due 2021, and USD 370 million 6.625% due 2022, with new due date in 2024 and 2025. The parties have successfully closed the transaction on 2 November 2020.