Indosat revives Asian high yield market

A large order book sees Indonesian telco successfully re-open Asian high-yield debt market.

Lead managers Credit Suisse First Boston, Goldman Sachs and JPMorgan have given Asia's beleagured non-investment grade sector a much needed boost following the successful completion of a $250 million issue for PT Indosat Thursday. The Reg S 144A seven non-call five deal had an unexpectedly strong investor showing and proved to be a classic example of how to use a small issue size and wide guidance to gain traction and tight pricing.

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