Winds of change blow in Indonesian high yield

Soechi Lines postpones debut bond offering after typhoon Merbok hits Hong Kong and investors pay more heed to tight valuations across Asian high yield.

Winds of change blow in Indonesian high yield

Investors are displaying increasing caution towards the Indonesian high yield sector where a growing new issue pipeline is butting up against historically tight yields and the weak trading performance of recent deals. 

The first casualty of this new attitude was Indonesia's largest private tanker operator, PT Soechi Lines, which postponed a debut 144a offering on Monday. 

The $200 million transaction had built a reasonable $300 million order book by Asia's...

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