September 16, 2022

Milbank Advises PT ABM Investama Tbk in Consent Solicitation for US$200M Notes Issuance

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Milbank LLP advised Indonesian integrated energy investment company PT ABM Investama Tbk (“ABM”) in its successful consent solicitation to approve proposed amendments to the company’s US$200 million 9.500% senior notes due 2026. Consenting bondholders will receive a cash payment of US$15 per $1,000 principal amount of notes by September 12, 2022.

ABM issued the senior notes in 2021 to facilitate its purchase of a 30% stake in mining company PT Golden Energy Mines Tbk.

ABM is a diverse coal mining, mining services, mining logistics and distributed power company listed on the Indonesia Stock Exchange. Milbank previously advised ABM on its 2017 issuance of notes due 2022 and a consent solicitation and tender offer in 2018.

“We’re grateful to provide continued legal counsel to ABM and other leading Indonesian energy players as they pursue their strategic business objectives,” said Milbank Global Capital Markets partner Giles Kennedy.

Mr. Kennedy led the Singapore-based Milbank deal team, which included special counsel Terry O’Donnell and associate Andre Seah.