Medco Energi explores rarely used convertible market
Indonesia's premier oil and gas producer attracts strong demand for only the country's second CB since Asian financial crisis.
PT Medco Energi has raised $176.9 million from IndonesiaÆs largest publicly marketed convertible bond issue since the financial crisis. The deal was made extra challenging by its launch on the very day Standard PoorÆs revised its ratings outlook to negative.
Investors took little notice, however, focusing instead on the growth prospects of IndonesiaÆs premier listed oil and gas producer - at a time when demand is increasing and oil prices are hovering near the $75 per barrel level. The CB...
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