ubs-takes-surabaya-property-company-on-the-road

UBS takes Surabaya property company on the road

Despite the struggles of other Indonesian high-yield deals in recent weeks, Pakuwon Jati readies its debut in the international high-yield market.
UBS has been hired as sole bookrunner for a dollar-denominated high-yield bond offering for PT Pakuwon Jati. It will be the debut offshore issuance for the Indonesian property company.

The deal has a B-B2B rating and will begin roadshows on Thursday September 7 in Singapore, before heading to Hong Kong on the 8th and London on the 11th.

As yet the deal size has not been finalised but is expected to be in the $100 million to $120 million range.

Pakuwon Jati is an Indonesia-based property management company which is headquartered in Surabaya and operates the Tunjungan Plaza shopping centre, the Mandiri Tower office centre, the Sheraton Surabaya Hotel and Towers and the...
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