new-highyield-bond-for-fajar-surya-wisea

New high-yield bond for Fajar Surya Wisea

Deutsche prices a new deal for the Indonesian paper producer.
Sole bookrunner Deutsche Bank has quietly completed a $100 million five-year deal for Indonesian paper manufacturer, Fajar Surya Wisea. The notes were issued via Fajar Paper Finance.

Deutsche and co-lead UOB Asia announced the Reg-S only deal on Monday last week with an initial guidance of 11%. With a series of anchor orders in place, the leads priced the deal on Friday night October 20. Final pricing came at 97.666% with a coupon of 10.75 to yield at 11.375%. That represents a spread of US Treasuries plus 662.6bp or Libor plus 593bp.

The deal, rated BBBBBSPFitchNational Fitch, closed approximately three-times oversubscribed with a total of 30 investors...
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