ciliandra-cooks-with-new-dollar-deal

Ciliandra cooks with new dollar deal

Following an extensive roadshow schedule, Citigroup prices a debut deal for Indonesian palm oil producer Ciliandra at the tight end of guidance.
Indonesian palm oil producer Ciliandra Perkasa completed its international debt capital markets debut with an upsized five-year $160 million Reg-s144a deal via sole bookrunner Citigroup on Friday night December 1.

The B2B rated deal, carrying a bullet structure, was being marketed to investors at an indicative range of 10.75% to 11%. When the deal priced it came at the tight end of guidance at par with a coupon of 10.75 and a spread of 636bp over US treasuries.

When the new deal for Ciliandra opened in trading on Friday night, it quickly traded higher with a bid of 101% at the break.

The lead was able to upsize the deal by around...
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