Indonesia

Indonesian state-owned electricity company Perusahaan Listrik Negara is planning a return to the market for a new $1bn loan.

The allocation of Indonesian instant noodle maker Indofood CBP Sukses Makmur’s $2.05bn-equivalent acquisition loan has been finalised, after the lead banks closed the syndication earlier this month.

Indonesian instant noodle maker Indofood CBP Sukses Makmur has closed syndication of its $2.05bn-equivalent acquisition loan. The allocations are expected to be out in the next few weeks.

A large number of issuers from Asia, the majority Chinese, tapped bond investors on Wednesday for fresh funds.

Indonesian state-owned electricity company Perusahaan Listrik Negara has cancelled a $300m loan, after receiving a capital injection from the government.

Indonesia’s Pan Brothers has requested Moody’s to withdraw its corporate issuer rating after a spate of downgrades this year, as the textile company struggles to put together a loan to meet some of its looming maturities.

Indonesia coal producer Indika Energy was back in the debt market on Thursday with a $450m bond.

Indonesia’s Star Energy Geothermal found solid investor demand for Asia’s first dollar-denominated project bond of the year. The deal was helped by the issuer’s investment grade rating and a green label that helped reduce pricing. Morgan Davis reports.

Indonesian property company Alam Sutera’s move to kick off an exchange offer last week to stave off pressing financial concerns was met with ratings downgrades from two of the three global ratings agencies.

Lippo Malls Indonesia Retail Trust is in discussions with banks for a S$120m ($87m) loan that will support its acquisition of shopping malls in Indonesia.

The Indonesian government’s move to shut down a committee exclusively focused on approving offshore loans from borrowers is getting its first test, as Pertamina lines up a $3bn deal for the acquisition of energy assets. Despite the change coming into effect about two months ago, there is still uncertainty around how the new process will work, writes Pan Yue.

Indonesian property developer Modernland Realty missed a coupon payment on its dollar bond this week, triggering a further downgrade in its rating.