Gajah Tunggal gets bond market access

Rehabilitation of Indonesia inc continues apace.

South East Asia's largest tyre manufacturer PT Gajah Tunggal accessed the debt markets for the first time since its 2002 restructuring yesterday July 14 with a $325 million five-year deal via Credit Suisse First Boston and UBS. After a two-week roadshow, the B2B rated group was able to increase its prospective deal size from $250 million after building an order book of $550 million.

Pricing came at 99.522% on a coupon of 10.25% to...

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