Indonesia

Indonesian power company Perusahaan Listrik Negara has returned to the offshore market seeking a $1bn borrowing.

Long-dated dollar bonds issued by Indonesian companies have been taking a beating in the secondary market, with the country's high yield sector also expected to suffer from the negative impact of an ongoing trade war between two of the world's biggest economies.

Indonesia’s Medco Energi Internasional wrapped up a $650m bond outing on Thursday, closing off an acquisition financing exercise linked to a bridge loan from earlier in the year.

Indonesian property developer Alam Sutera tapped its 6.625% 2022 notes on Tuesday, raising $125m from the trade.

Two Indonesian auto finance companies, Indomobil Finance Indonesia and Chandra Sakti Utama Leasing (CSUL), have returned to the offshore loan market.

Indonesia’s Chandra Sakit Utama Leasing (CSUL) has launched a $75m offshore loan into general syndication.

Indomobil Finance Indonesia has paid up for its offshore loan return for a new $100m three year borrowing.

Indonesian palm oil producer Perkebunan Nusantara III has launched its debut offshore borrowing into general syndication.

Indonesia’s Mega Central Finance and Mega Auto Finance have returned to the offshore loan market, jointly seeking a $100m dual currency deal.

Private equity firm CVC Partners sold a large part of its stake in Indonesian clothing retailer Map Aktif Adiperkasa (Map Active) on Wednesday, taking part in a $296m secondary sale targeted to international investors.

India’s JSW Steel raised $500m in an opportunistic transaction on Wednesday, marking the company’s first dollar bond in two years.

Indonesian clothing retailer Map Aktif Adiperkasa (Map Active) has hit the market with an up to Rph5.03tr ($353m) secondary share offering.