Pan Brothers sews up bond debut

Despite rising debt load, the Indonesian company gets a warm welcome from bond investors

Pan Brothers sews up bond debut

Pan Brothers, an Indonesian garment manufacturer, raised $200 million from its international bond debut on Thursday, becoming the country's first offshore debt issuer this year.

The B1B rated company's entrance into the international bond market was part of a broader plan to diversify its funding channel away from Indonesian bank loans, amid a swelling of its debt load over the last five years, bankers said. The proceeds of the new bond will be...

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