KPC and Arutmin go on the road with debut future flow securitization

Merrill Lynch takes Indonesian coal mining duo to the overseas ABS market.

Merrill Lynch has begun roadshows for a landmark $600 million 3.1-year Series-1 future flow securitization for PT Kaltim Prima Coal KPC and PT Arutmin Indonesia in Hong Kong today. All eyes are on the deal, which will not only mark the first cross border securitization from Indonesia since the financial crisis, but the first stand alone cross-border future flow transaction from Asia as well.

Following presentations in Asia during the early part of this week, the lead will take the deal to investors in Europe at the end of the week, before heading to New York for pricing early next week.

Although, the marketed range has not...

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