09 Nov 2020
PT Indika Energy Tbk’s issuance of notes
Partners Bono Daru Adji, Mohammad Renaldi Zulkarnain and Senior Associate, Astrid W. Handaka from Assegaf Hamzah & Partners acted as Indonesian counsel to PT Indika Energy Tbk (“Indika”), Indonesia's leading integrated energy company, in the issuance of USD 675 million (consist of two series of USD 450 million and USD 225 million) 8.25% Senior Notes due 2025 by its subsidiary Indika Energy Capital IV Pte Ltd. Indika will use the funds raised from this bond to, among others, refinance the USD 265 million 6.875% Senior Notes due in 2022, and USD 500 million 6.375% Senior Notes due in 2023. The bonds are listed on the Singapore Exchange and the parties have successfully closed the transaction on 4 November 2020. Standard Chartered Bank (Singapore) Limited, Mandiri Securities Pte. Ltd. and Deutsche Bank AG, Singapore Branch acted as the joint bookrunners.