Indonesia

Indonesian company Sarana Multi Infrastruktur (SMI) has increased the size of its loan to $700m after seeing strong traction from banks during syndication.

Indonesian oil and natural gas company Pertamina has shortlisted six banks for a bridge loan of as much as $3bn to support its acquisition of energy assets.

Indofood CBP Sukses Makmur, an Indonesian instant noodle maker, has launched a $2.05bn-equivalent acquisition loan into syndication. The rare appearance of a strong credit in the market this year means banks appear eager to join the deal, writes Pan Yue.

Is the southeast Asian loan market set for a revival? Early signs are positive as borders start to open up and Covid-19 infection cases stabilise, leading to more enquiry from borrowers.

Indonesian tanker company Soechi Lines, which is facing a big hit to its shipyard operation, is in discussions with banks for a refinancing loan.

Indonesian high yield property companies are continuing to come under fire, with Alam Sutera becoming the latest to be hit with a downgrade due to bond refinancing concerns.

Indonesian property developer Modernland Realty is looking to restructure its two outstanding dollar bonds following missed payments and rating downgrades, and after wrapping up a debt restructuring domestically.

Indonesian state-owned electricity company Perusahaan Listrik Negara has changed tack on its loan plans in a bid to seal thinly priced deals in a difficult market environment, writes Pan Yue.

Bank Rakyat Indonesia has opened a $1bn loan into general syndication with a group of 10 lenders at the helm.

Indonesia’s Perkebunan Nusantara III (PTPN) is seeking lenders’ go-ahead for a debt restructuring plan, after missing the principal payment on a $390.6m loan at the end of June.

Charoen Pokphand Indonesia is gauging appetite among a select few existing lenders for a new $307.9m-equivalent dual-currency loan.

An Indonesian palm oil company has become the latest to fall victim to rising worries among loans bankers about government support. The company missed a payment last week, after bankers rejected an earlier covenant waiver request. Pan Yue reports.