Bondholder Approved Indika Energy’s Consent Solicitation

PT Indika Energy, Tbk (INDY IJ)’s plan to acquire PT Kideco Jaya Agung, amidst consent solicitation from company’s bondholder worth USD500mn which will be due in 2023. As much as 97.1% of bondholders are agree to company’s plan to acquires 45% of Kideco, the third-largest coal producer in Indonesia. For the record, the acquisition funds came from the Indika Energy’s global bond issuance worth USD600mn with coupon rate at level 9.5%.

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