Indonesian retailer tests waters with junk bond

Other Asian companies in need of cash will watch the performance of Multipolar’s high-yield bond closely to see if the investor appetite for riskier instruments is returning.

Indonesian retailer tests waters with junk bond

Indonesian retailer Multipolar sold a $200 million junk bond on Friday, making it one of only a handful of Asian companies to brave the volatile markets since the US Federal Reserve signaled it would start to withdraw stimulus.

Multipolar priced its five-year high-yield bond at 9.75%. It follows South Korea’s MagnaChip Semiconductor, which sold $224 million worth of high-yield bonds on July 15.

The deals are a sign that investors’...

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