Slide transcript
INDICATIVE TERMS
| Term | Detail |
|---|---|
| Raise size | USD 40 million single-LP equity + senior bridge debt to USD 28M; refinanced into long-term project bond at COD |
| Structure | Three-layer corporate stack — InvestCo (per SPV) → OpCo → Local Operator |
| LP economic interest | 100% economic interest at InvestCo; board majority and reserved-matter rights |
| Concession | 25 years per SPV — 1 yr approvals + 2 yr construction + 22 yr operations with revenue |
| Capital structure | 70 / 30 debt-to-equity base; bridge during construction → senior project bond at COD; tenor matched to ops |
| Drawdown profile | Approvals Y1: 1% · Construction Y1: 59% · Construction Y2: 40% per SPV |
| Target returns | Project IRR 15% · Equity IRR 20% · DSCR floor 1.30x — all targets cleared at base case |
| Award sequence | PD Pasarjaya Oct 2026 · Bandung Apr 2027 · Lampung Selatan Oct 2027 |
| COD sequence | PD Pasarjaya Oct 2029 · Bandung Apr 2030 · Lampung Selatan Oct 2030 |
| Offtake | Firm long-term CBG to PGN / Pertamina / qualified buyers @ USD 15/MMBTU, USD-denominated |
Indicative terms · subject to definitive documentation · base-case figures.