Cikarang eyes bond refi after long lay-off

The Indonesian power producer hits the road ahead of bond refinancing plan.

 

Indonesian power producer Cikarang Listrindo will hit the road this week to pitch a return to the dollar bond market, trying to find a cheaper alternative to its outstanding 2019 issue. 

The company has picked Barclays and Deutsche Bank to manage a US dollar bond that could be worth as $550 million, and which will have a maturity of no more than 10 years.

Cikarang is returning to bond investors after a four-year lay-off. But the company has not been entirely absent from the capital markets it pulled off a $272 million domestic IPO in May.

The...

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