Berau's $500 million bond issue gets enthusiastic response

Berau Coal Energy attracts strong demand for its $500 million bond issue, enabling the Indonesian miner to achieve aggressive pricing.

Berau's $500 million bond issue gets enthusiastic response

Asian high-yield bond issues continue to find robust support among investors throughout the world. In the secondary markets they have outperformed European and, especially, US high-yield paper for two consecutive weeks. Spreads have tightened by as much as 53bp, according to Morgan Stanley.

So, the launch of Berau Coal Energy’s $500 million deal on Tuesday was to an enthusiastic audience and made the company’s statement a month ago that it intended to...

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