Davis Polk advised the joint lead managers and joint bookrunners on a Rule 144A/Regulation S offering of $550 million aggregate principal amount of 4.95% senior notes due 2026 by Listrindo Capital B.V. The notes are guaranteed by PT Cikarang Listrindo Tbk.

PT Cikarang Listrindo Tbk is engaged in electricity generation and distribution, supplying over 2,223 industrial customers in the Cikarang area of Indonesia. PT Cikarang Listrindo Tbk owns and operates two natural gas-fired combined-cycle power plants with a combined installed generation capacity of 864 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 Gerhard Radtke and registered foreign lawyer Xuelin (Steve) Wang. Counsel Alon Gurfinkel and associate Nicholas A. Machen provided tax advice. Members of the Davis Polk team are based in the Hong Kong and London offices.

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