the-market-waits-on-noble-finance-high-yield-deal

The market waits on Noble Finance high yield deal

The Asian high-yield debt market is hanging its hopes this week on a $150 million five-year trade by IndonesiaÆs Noble Finance.
August 16, 2006
Citigroup is expected to price Noble Finance's $150 million five-year single-B SPFitch rated deal later this week. The lead manager sent out a revised offering circular Tuesday morning August 15. Heading into the week the market had anticipated a mid-week pricing date, however it now looks like the deal will probably come either today or Friday.

The lead published price guidance in the 11.5% area for the Reg-S144a deal after it wrapped up roadshows in Europe, the US and Asia. Initially the deal had been worth $240 million but has since been downsized.

It has been a difficult three weeks for AsiaÆs markets in general and the high-yield space specifically. At...
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