PLN bond electrifies at the long end

Indonesian state-owned electricity giant brings rare long-dated bond, taking advantage of investor demand for returns amid a flattening of the Treasury yield curve.

PLN bond electrifies at the long end

Indonesia's Perusahaan Perseroan Persero PLN returned to the international bond markets for the first time in almost five years on Monday with a $2 billion dual tranche deal. The deal attracted an impressive $7 billion order book, but had a mixed performance in the secondary market.

The country's state-owned electricity producer, transmitter and distributor is only the second Indonesian issuer to raise more than $2 billion so far this year, following the sovereign's $3 billion...

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