Coal miner PT Indika Inti EnergiÆs B2B fiveûyear Reg-S non-call life generated $3.8 billion in demand on Friday, pricing at par at 8.5%, at the tight end of revised guidance 8.5%-8.625%. Initial guidance was 8.625%-8.875%. The $250 million transaction is said to be the lowest-priced deal out of Asia with that coupon and rating. The deal was managed by ING and JPMorgan.
The deal attracted 200 investors, with 160 allocated accounts. Half of the bonds were sold to Asian investors, 40% to Europe and 10% to the US. Investor-type breakdown was not available, however, the order book included several $100 million orders. The smallest order came in at $5 million.
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