matahari-comes-in-from-the-cold

Matahari comes in from the cold

After three attempts, the Indonesian retailer successfully launches its high-yield bond offer.
Five months after it was first marketed, Credit Suisse and UBS have finally priced a $150 million bond offering for Indonesian retailer Matahari. The deal, which closed on Friday September 29, marks the third international high-yield deal to emerge from Asia this month. The other two were deals for MNC and Agile.

Matahari has tried three times to get its bond transaction off the ground. In May, the original deal was marketed as a $300 million bullet transaction with a five- or seven-year maturity with price talk around 9%. However that deal was shelved when the markets turned South shortly after.

The deal re-emerged in August as a downsized offering with a five-year maturity...
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