Kawasan Industri bond builds on sector turnaround

Indonesian property developer takes advantage of improving sentiment after completing the new money component of an exchange offer and consent solicitation.

Kawasan Industri bond builds on sector turnaround
Hardly a car in sight....

Indonesian property developer, PT Kawasan Industri Jababeka KIJA, returned to the international bond markets on Wednesday, completing the new money component of an exchange offer and consent solicitation it had launched on September 13.

The group appears to have timed the liability management exercise well given the strong performance of Indonesian high yield bonds since their year-to-date lows in February. 

Since the group announced the exchange offer for its outstanding...

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