Astra Sedaya sells $300m bond after 15-year hiatus

Indonesian car financing firm returns to the global debt markets with a vengeance, upsizing it from a reported $250 million as investors seek diversification away from China.

Astra Sedaya priced a $300 million three-year bond on Wednesday at the lower range of final price guidance after a 15-year hiatus for the Indonesian car financing company, upsizing it from a reported $250 million.

Rated Baa3BBB-, the Reg S-only offering priced at US Treasuries plus 200 basis points is 25bp tighter than initial price guidance, according to a term sheet seen by FinanceAsia. The bond's coupon is 2.875%.

Investor sentiment towards Indonesia credit has been running high since President Joko Jokowi Widodo assumed office in October. Indonesia's bond market recorded a 13.6% gain in 2014, the second-best national performance in...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222