Convertible from Indonesia's BLT receives strong demand

The issue comes on the heels of a successful high-yield offering two weeks ago and adds further cash for ship acquisitions and debt repayment.

PT Berlian Laju Tanker BLT has raised $125 million from the latest in a string of convertible bond issues. The deal was well received by investors who welcomed the rare opportunity to buy exposure to Indonesia.

The CB, which was completed in the early hours of Wednesday morning, is part of a multi-legged fund raising programme by the company to repay outstanding debt and comes two weeks after it raised $400 million from a high-yield bond that was doubled...

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