Modernland Realty builds on Jokowi factor

The Indonesian property developer sold a $190 million bond, fulfilling its plan to cut overall funding costs and extend its debt maturity profile.

Modernland Realty, which builds luxury townships in Indonesia, priced a capped $190 million five-year bond that is callable in year three on Tuesday as investors cashed-in on rare high-yield Indonesian credit post-election.

¬ Haymarket Media Limited. All rights reserved.

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