KIJA Successfully Executed USD 110.85 Million Tap

PT Kawasan Industri Jababeka Tbk (“KIJA” or “the Company”) successfully executed a USD110.85 million tap offering of its existing USD189.15 million 6.50% 144A/Reg S senior notes due 2023 (the “Notes”).  Post the transaction, the final outstanding principal amount for the 2023 notes will be USD300 million. 
The use of proceeds was to redeem the entire c. USD91.5 million of principal amount outstanding for our 7.5% senior notes due 2019 as well as repay a loan of USD13.3 million from Standard Chartered Bank as well as transaction premiums, transaction fees and expenses.
This transaction enabled KIJA to reduce its overall funding cost and extend its debt maturity profile.
The ratings on the Notes remain unchanged at B+ by both S&P and Fitch respectively
J.P. Morgan, Standard Chartered Bank and UBS acted as Joint Lead Managers and Bookrunners on the new notes offering
 
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KIJA Successfully Executed USD 110.85 Million Tap

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