Aneka Tambang close to mandating dollar debut

Indonesian state mining concern looks to select a lead manager for its debut international bond.

Sources at PT Aneka Tambank Antam, the Indonesian state mining company, confirmed yesterday that they were very close to appointing a lead manager for an inaugural international bond deal. The announcement should be made in the next day or so but it is thought that UBS Warburg, CSFB, Barclays Capital and Citigroup are in the running for the position.

The deal is likely to be for about $150 million and would pay an interest rate of around 10%, at current market spreads. Launch of the deal is slated for the third quarter, although officials stress that nothing is set in stone.

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