APOL sails into international debt capital markets

Indonesian Shipper prices dollar deal inside of guidance on the back of a huge order book.
IndonesiaÆs second largest shipping company, Arpeni Pratama Ocean Line APOL accessed the international debt markets for the first time with a hugely oversubscribed $160 million seven year non-call four year RegS 144A bond offering via sole lead manager Citigroup on Tuesday April 25.

The BBB- Fitch rated issuer was able to close the deal ahead of schedule and price well inside of initial guidance after building an order book of $1.3 billion.

Roadshows kicked off in Singapore, Hong Kong and London last week, with investor showcases in the US scheduled for Monday and Tuesday. However a swift build up of the order book prompted the lead to cancel meetings on Tuesday...
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