Indika bond scores amid upgrade hopes, coal price surge

A rally in the price of coal and the chance of credit upgrades ensured the Indonesian miner got a warm welcome from global bond investors.

Indika bond scores amid upgrade hopes, coal price surge

Indika Energy, an Indonesian coal miner, returned to the international bond markets for the first time in over four years this week, raising $265 million that it will use to refinance outstanding debt.

The company offered investors a deal that was as high-yield as you can get it has a triple-C rating from both Moody's and Fitch. But that did not stop Indika generating more than $1.7 billion at the peak order book level....

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