Bakrie Telecom taps existing high-yield bond

The Indonesian telecom company attracts strong demand as it raises a further $130 million by tapping its debut US dollar issue launched in May last year.

Bakrie Telecom BTEL has taken advantage of this month’s strong appetite for Asian credits by tapping its existing US dollar bond issue launched in May 2010. The Indonesian firm raised $130 million after a rapid bookbuilding exercise, and priced the new bonds at a slight discount to the outstanding issue late on Monday night.

Although small, the issue provided an alternative to the Chinese names that have dominated the Asian debt capital markets so far this year.

The...

To continue reading, please login or register for free

Print Edition

FinanceAsia Print Edition

CONFERENCES