Indonesia's PT Truba Alam Manunggal Engineering has mandated UBS in what could be the first high-yield bond deal in Asia this year. In less than a week, three bonds have priced including the year's first non-government linked bond transaction Swire, and the region's first triple-B deal Nine Dragons Paper.
Truba has announced its intention to raise dollar funds in a Reg-S three-year senior bond transaction following an investor roadshow in Hong Kong today, Singapore April 28 and 29, and London May 1 and 2.
The notes, listed in Singapore, are expected to be rated BstableBstable by Standard and PoorÆs and Fitch.
No details of the expected size...
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