Astra Sedaya sells $300m bond after 15-year hiatus

Indonesian car financing firm returns to the global debt markets with a vengeance, upsizing it from a reported $250 million as investors seek diversification away from China.

Astra Sedaya sells $300m bond after 15-year hiatus

Astra Sedaya priced a $300 million three-year bond on Wednesday at the lower range of final price guidance after a 15-year hiatus for the Indonesian car financing company, upsizing it from a reported $250 million.

Rated Baa3BBB-, the Reg S-only offering priced at US Treasuries plus 200 basis points is 25bp tighter than initial price guidance, according to a term sheet seen by FinanceAsia. The bond's coupon is 2.875%....

FinanceAsia has updated its subscription model. Registered readers now have the opportunity to read five articles from our award-winning website for free. Please subscribe for unlimited access.

Click for more on: astra sedaya | bonds | indonesia | investment grade

Print Edition

FinanceAsia Print Edition