Medco energizes Asian high yield market

What a difference a year makes as PT Medco Energi underlines Indonesia''s return to favour.

A $250 million 144a bond offering combined with a consent solicitation and exchange offering was completed in New York last night Thursday to considerable acclaim. With an order book of $1.2 billion and roll call of 120 investors, the new seven put five deal led by Credit Suisse First Boston and UBS Warburg can be considered nothing short of a resounding success.

This is particularly the case when compared to the EP company's previous deal priced almost a year ago to the day, which attracted just 18 investors and had to be scaled back from $150 million to $100 million. Representing the first fixed rate dollar bond by an Indonesian corporate since...

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 (2-10 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 (2-10 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