General Announcement::Results of the Offer and Consent Solicitation and Concurrent Consent Solicitation

Issuer & Securities

Issuer/ Manager
PT ALAM SUTERA REALTY TBK.
Securities
PTALAM US$171.397M6%N241102 - XS2238946581 - 5O2B
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
20-Oct-2022 12:28:09
Status
New
Announcement Sub Title
Results of the Offer and Consent Solicitation and Concurrent Consent Solicitation
Announcement Reference
SG221020OTHRHVUJ
Submitted By (Co./ Ind. Name)
company
Designation
COmpany
Effective Date and Time of the event
20/10/2022 12:30:00
Description (Please provide a detailed description of the event in the box below)
JAKARTA, Indonesia, October 20, 2022 Reference is made to the press release of PT Alam Sutera Realty Tbk.
(the Company ) dated October 10, 2022 (the Press Release ) in relation to the Offer and Consent Solicitation and
the Concurrent Consent Solicitation. Capitalized terms used but not defined in this press release shall have the same
meanings given to them in the Press Release.
The Offer and Consent Solicitation and the Concurrent Consent Solicitation expired at 4:00 p.m., London time, on
October 19, 2022 (the Expiration Time ).
Results of Tenders of the Notes under the Offer and Consent Solicitation
As of the Expiration Time, a total of USD139,069,000 in principal amount of the Notes, representing approximately
81.14% of the total outstanding principal amount of the Notes had been validly tendered (and not withdrawn) pursuant
to the Offer and Consent Solicitation.
Acceptance Amount
Subject to the satisfaction of the conditions set forth in the Offer to Purchase and Consent Solicitation Memorandum,
the Company has decided to accept for purchase the Notes validly tendered up to the Acceptance Amount, which shall
be USD138,594,000 in aggregate principal amount of the Notes validly tendered and not withdrawn, representing
approximately 80.86% of the total principal amount outstanding of the Notes.
Settlement and Notes Remaining Outstanding
Subject to the satisfaction of the conditions set forth in the Offer to Purchase and Consent Solicitation Memorandum,
the Settlement Date in respect of the Notes accepted for purchase pursuant to the Offer is expected to be October 25,
2022.
Following settlement of the Offer and Consent Solicitation, USD32,803,000 in aggregate principal amount of the Notes
will remain outstanding.
Results of Consents delivered under the Offer and Consent Solicitation and the Concurrent Consent
Solicitation
Consents received pursuant to the Offer and Consent Solicitation and the Concurrent Consent Solicitation from
Holders represented a total of USD139,879,000 in aggregate principal amount, or approximately 81.61% of the
outstanding Notes. Accordingly, the Company has received the Requisite Consents. As the Company has received
the Requisite Consents, a supplemental indenture giving effect to the Proposed Amendments will be executed. The
Proposed Amendments will not become effective until after the Company pays the Consent Fee (as defined below)
to (i) the Eligible Holders who validly deliver Consents without tendering their Notes in accordance with the terms
and conditions set forth in the Offer to Purchase and Consent Solicitation Memorandum and (ii) the Holders who
delivered valid Consents in accordance with the terms and conditions set forth in the Consent Solicitation
Statement. The Company offered to pay a cash payment of USD2 for each USD1,000 principal amount of Notes
(the Consent Fee ) to such Holders and Eligible Holders. Payment of the Consent Fee to such Holders and Eligible
Holders is currently expected to be made on or about October 25, 2022.

Please refer to the attached announcement for more details.

Attachments

Press Release - Results.pdf
Total size =175K