Indika closes bond for Kideco acquisition

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By Morgan Davis
03 Nov 2017

Indonesian power house Indika Energy sealed a $575m bond on Thursday, weeks after securing a consent offer from its existing investors. With its new funds, the company will be able to close its recent acquisition of Kideco Jaya Agung.

Indika announced in September that it was taking an additional 45% stake in coal producer Kideco, becoming the majority shareholder with a 91% equity ownership. The acquisition involved an upfront payment of $517.5m and a contingent liability of $160m — with the total amount to be funded ...

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