top of page

Jababeka & Co. - PT Kawasan Industri Jababeka Tbk.

Announcement of Expiration Time, results and waiver of Exchange Minimum Participation Condition


Latest announcement via the SGX


"Expiration Time


The Company hereby announces that the exchange offer and consent solicitation and the concurrent consent solicitation expired at 11:59 p.m., New York City time, on December 7, 2022 (such time and date, the “Expiration Time”) and confirms that, as of the Expiration Time, holders of Old Notes had validly tendered US$265,518,000 in aggregate principal amount of the Old Notes, being 88.95% of the total principal amount of the Old Notes outstanding.


In addition, the Company confirms that, as of the Expiration Time, it had received total consent instructions, including deemed consents, with respect to the Old Notes in the aggregate principal amount of US$277,920,000, representing 93.10% of the total principal amount of the Old Notes outstanding.


Waiver of Exchange Minimum Participation Condition


The Company hereby announces that it has waived compliance with the Exchange Minimum Participation Condition in respect of the exchange offer. Holders of Old Notes that have validly tendered for exchange on or prior to the Expiration Time will receive the Early Exchange Consideration and Accrued and Unpaid Interest. In addition, holders of Old Notes that have validly delivered consent only instructions pursuant to the consent solicitation or the concurrent consent solicitation, or in respect of which deemed consents have been delivered pursuant to the exchange offer, on or prior to the Expiration Time will receive the Early Consent Fee.


Payment of the Early Consent Fee for the Old Notes in respect of which consents have been validly delivered, or deemed delivered, on or prior to the Expiration Time is anticipated to occur on December 9, 2022 (the “Consent Settlement Date”). The Old Notes Issuer, the Company, the relevant subsidiary guarantors and the Old Notes Trustee under the 2023 Indenture are also expected to promptly execute and deliver a supplemental indenture to the 2023 Indenture, pursuant to which the Proposed Amendments will be effected. Payment of the Early Exchange Consideration and Accrued and Unpaid Interest for Old Notes that have been validly tendered for exchange on or prior to the Expiration Time and accepted for exchange is anticipated to occur on December 15, 2022 (the “Exchange Settlement Date”)."

 

Announcement of Early Exchange Deadline, Early Consent Deadline and amendments to Exchange Offer, Consent Solicitation and Concurrent Consent Solicitation 6.50% Guaranteed Senior Notes Due 2023 (Rule 144A - ISIN: US46638AAC45, CUSIP: 46638AAC4; Regulation S - ISIN: USN4717BAD84, CUSIP: N4717BAD8) (the “Old Notes”)


Update:-


Latest announcement via the SGX.


 

Full announcments available via the SGX.









Previous:-


"Exchange Offer and Consent Solicitation

The Company has commenced an offer to Eligible Holders (as defined herein) to exchange (the “Exchange Offer”) the outstanding 6.50% Guaranteed Senior Notes due 2023 (Rule 144A - ISIN: US46638AAC45, CUSIP: 46638AAC4; Regulation S - ISIN: USN4717BAD84, CUSIP: N4717BAD8) (the “Old Notes”) issued by Jababeka International B.V. (the “Old Notes Issuer”) for the Company’s Guaranteed Senior Notes due 2027, guaranteed by certain of its subsidiaries. The Exchange Offer is made available to Eligible Holders of the Old Notes, on the terms and subject to the conditions set forth in the exchange offer and consent solicitation memorandum dated as of November 8, 2022 (the “Exchange Offer and Consent Solicitation Memorandum”).


Concurrently with the Exchange Offer, the Company is soliciting consents from Eligible Holders of the Old Notes (the “Consent Solicitation” and together with the Exchange Offer, the “Exchange Offer and Consent Solicitation”) to amend the terms of the indenture dated as of October 5, 2016 and as supplemented and amended by a first supplemental indenture dated as of December 21, 2018 (the “Old Notes Indenture”) that governs the Old Notes among the Old Notes Issuer, the Company, the subsidiary guarantors named therein and The Bank of New York Mellon, as trustee (the “Old Notes Trustee”). The proposed amendments would amend certain terms of the Old Notes Indenture including to eliminate substantially all of the restrictive covenants, all of the reporting requirements, and certain of the events of default in the Old Notes Indenture (the “Proposed Amendments”).


Stock Exchange announcement Link.



4 views0 comments

Commentaires


bottom of page