Practice Areas - Debt Capital Markets Law Firms and Lawyers
| Deal Date: | 13-03-2012 | Practice Area: | Debt Capital Markets |
| Deal Title: | Cikarang Listrindo High-Yield Notes | Industry: | Electricity |
| Description: |
Davis Polk advised Barclays and Credit Suisse as joint lead managers and joint bookrunners on a Rule 144A/Regulation S offering of $500 million aggregate principal amount of 6.95% senior notes due 2019 by Listrindo Capital B.V. The notes are guaranteed by PT Cikarang Listrindo. Davis Polk also advised Barclays and Credit Suisse as dealer managers and solicitation agents of a concurrent tender offer and consent solicitation by Listrindo Capital B.V. to purchase all of its outstanding 9.25% senior notes due 2015. The tender offer was funded with the proceeds of the 2019 notes offering.
PT Cikarang Listrindo is engaged in electricity generation and distribution, supplying over 1,650 industrial customers in the Cikarang area of Indonesia. PT Cikarang Listrindo owns and operates a natural gas-fired power plant with an installed generation capacity of 755 MW and is constructing a coal-fired power plant which, when completed, will have an installed generation capacity of approximately 280 MW.
The Davis Polk capital markets team included partner William F. Barron, counsel Ferish Patel and registered foreign lawyer David Pendergast. Partner John D. Paton and associate Alon Gurfinkel provided tax advice. Edward Kang was the legal assistant on the transaction. Members of the Davis Polk team are based in the Hong Kong and London offices.
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| Financial Center: | Hong Kong | Value: | 100.01-500.00 |
| Advised Party: | Lead Manager | Law Firm | Davis Polk |
| Issuer | Indonesia | Listing | Hong Kong |
| Classification: |
High-Yield Bonds |
Lawyer | William F Barron |
