PT Chandra pulls a high yield cracker

Indonesia's largest petrochemical company demonstrates just how far high yield spreads have compressed.

PT Chandra pulls a high yield cracker

PT Chandra Asri Petrochemical returned to the international bond markets for the first time in seven years on Tuesday with a $300 million deal, which underlined just how much high yield spreads have compressed in recent years.

When the group last came to market in October 2010, its five-year deal carried a 12.875% coupon on a B2B rating.

This time round, it...

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