Joint leads Credit Suisse First Boston, Morgan Stanley and UBS priced an upsized $350 million bond issue for PT Excelcomindo Pratama yesterday Thursday. The deal initially had a base size of $250 million, but was increased on the back of a $1.3 billion order book and now tops rival Indosat's $300 million offering as the largest from the country in over seven years.
Final pricing of the five non call three transaction was settled at 99.495% on a coupon of 8% to yield 8.125% or 514.5bp over Treasuries. This was marginally inside initial guidance around the 8.375% area.
There is also a call option at 104%.