Indonesia tower operator debuts $300m bond

Solusi Tunas Pratama is the second Indonesian tower operator to sell a dollar note in just over a week as the sector continues to consolidate.

Solusi Tunas Pratama STP sold a $300 million five-year non-call three bond late Thursday, becoming the second Indonesian tower operator to tap international debt markets in a little over a week.

The company, the third-largest tower leasing company in Indonesia, priced the Reg S-only bond at an all-in yield of 6.25%, which is 25 basis points tighter than its initial price guidance area of 6.5%, according to a term sheet seen by FinanceAsia.

Orderbooks for STP's bond reached over $1 billion from 125 accounts, with 73% of the offering going into Asian accounts and the rest to European investors. Fund managers subscribed to 71%...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222