pln-sets-precedent-for-future-borrowings

PLN sets precedent for future borrowings

UBS prices this year's largest non-investment grade international bond deal with a $1 billion dual-tranche transaction for PLN.
On Thursday morning, IndonesiaÆs Perusahaan Listrik Negara PLN priced a new Reg-S 144a $1 billion dual-trance bond deal, with UBS acting as sole bookrunner and local securities firm Danareksa as joint global co-ordinator.

The B1BB-A Moody'sSPPefindo rated deal marks the largest non-investment grade corporate bond from Asia all year and, with the exception of Hutchison's euro transaction, would be the largest corporate deal of the year alongside investment grade deals for PSA AaaAA and Penerbangan Malaysia A3A-. Moreover, the deal propels UBS to the top of the Asian G3 non-Japan Asian bond league tables.

PLN had set a minimum target of $500 million for the deal,...
¬ Haymarket Media Limited. All rights reserved.

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