BRI launches roadshows as Antam waits to price

Pricing of a debut international bond by PT Aneka Tambang should price early today (Tuesday) after a few days delay.

Lead manager ABN AMRO is expected to price a $200 million issue for government-owned nickel producer Aneka Tambang during Asia's morning today Tuesday. The seven-year transaction with a four-year call option was originally supposed to have been completed last Thursday, then yesterday, but has encountered difficulties because of a re-pricing of the Indonesian credit curve.

A pipeline estimated to top $1 billion in the run up to Christmas and a poor secondary market performance by PT Perusahaan Gas Negara PGN have made investors more wary and created a difficult new issue environment. PGN, for example, has now traded down to 97% from an issue price of 98.669% at the beginning of...

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