Bakrie Telecom issues $250 million debut bond

Indonesian mobile phone operator Bakrie Telecom priced a $250 million five-year bond late Friday, but the notes opened Monday’s session trading weaker.

Indonesian mobile phone operator Bakrie Telecom sold $250 million worth of five-year bonds on Friday. The 144A high-yield notes, which are callable after three years, pay a semi-annual coupon of 11.5% and were re-offered at par, resulting in a yield of 11.5% as well. The maturity date has been set to May 7, 2015.

Bakrie initially announced a deal roadshow on April 21 and on the following Monday April 26 it indicated that it would sell $250 million worth...

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