Sidley advised PT Indika Energy Tbk (Indika Energy) on its offering of US$450 million 8.25% senior notes due 2025.
Indika Energy will use a portion of the proceeds from the offering to fund its redemption of all of its outstanding 6.875% senior notes due 2022 and a portion of its outstanding 6.375% senior notes due 2023. The remaining proceeds will be used to fund the expansion of its non-coal-related businesses.
Indika Energy is a leading integrated and diversified Indonesian group with a portfolio of businesses spanning the energy value chain. Indika Energy is the third largest coal mining company in Indonesia in terms of production volume for 2019. It also provides engineering, procurement and construction, operations and maintenance, and related services for the Indonesian oil and gas sector, and offers an assortment of river and sea transportation services and port services.
The Sidley team comprised Partner Matthew Sheridan, Counsel Alexius Chong, and Associates Gmeleen Tomboc and Klara Thamrin, all of whom are based in Singapore; Partner Nicholas Brown, Counsel Carla Teodoro, and Associates Rémi Gagnon and Martin Michalski, all of whom are based in New York; and Partner James Crooks and Associate Nils Gravenhorst, all of whom are based in London.