Indonesia's Bakrie group returned to the international capital markets yesterday July 19 with a $200 million exchangeable led by JPMorgan. This marks the second time the group has accessed the dollar market in the last month following a $600 million future flow securitization via Merrill Lynch at the end of June.
Both deals represent an attempt to bring down the group's borrowing costs and increase its operational flexibility. More importantly their successful completion signals investors'...