Indonesia

Huadong Medicine seeks $150m debut — Indomobil revs up $200m club — PLN delays loan — Jih Sun plans April syndication

Indonesian motor vehicle financing company Indomobil Finance Indonesia is sounding out the market for a loan return. It has opted for a club deal this time around.

Indonesian real estate company Modernland Realty is still finding a way to tackle its debt situation, and has asked for another payment moratorium.

Mining Industry Indonesia, a holding company for the government’s stakes in five domestic mining firms, is seeking an up to $750m borrowing from the loan market.

Indonesian state-owned oil and gas company Pertamina raised $1.9bn from a two-tranche deal on Wednesday.

Lippo Malls Indonesia Retail Trust printed a $200m bond on Tuesday, with investors largely brushing off concerns about the hit to the borrower's business during the pandemic.

Indonesia’s Adaro Energy has sent out a request for proposals for a $400m loan to meet its refinancing needs.

Indonesian mining company Bukit Makmura Mandiri Utama (Buma) returned to the bond market on Tuesday to raise $400m after a three-year hiatus.

Indonesia's Tower Bersama Infrastructure took an aggressive pricing approach to a tap of its dollar bond on Monday. But when investor response fell short of expectations, the issuer was forced to pull its fundraising.

Indonesia Infrastructure Finance raised $150m from its maiden sustainability bond on Wednesday that proved popular among investors looking to get their hands on the rare southeast Asian credit.

The senior syndication stage for a $140m-equivalent loan to support TPG and Northstar Group’s acquisition of a majority stake in Japfa’s southeast Asian dairy business is set to close by the end of this week.

Indonesia's Tower Bersama Infrastructure used its recent rating upgrade to entice investors to its $300m bond on Wednesday. Price discovery was not easy but the telecommunication tower provider’s improving business profile appealed to the market.