Bakrie Telecom taps existing high-yield bond

The Indonesian telecom company attracts strong demand as it raises a further $130 million by tapping its debut US dollar issue launched in May last year.

Bakrie Telecom (BTEL) has taken advantage of this month’s strong appetite for Asian credits by tapping its existing US dollar bond issue launched in May 2010. The Indonesian firm raised $130 million after a rapid bookbuilding exercise, and priced the new bonds at a slight discount to the outstanding issue late on Monday night.

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