Indonesia

Indonesia’s Star Energy Geothermal (Wayang Windu) put together its first green bond on Tuesday after weeks of courting investors. Its $580m deal was meant to have a similar reception as the blow-out project finance trade from Paiton Energy Co in 2017, but the more difficult market backdrop posed a challenge.

Medikaloka Hermina has hit screens for an IPO in Indonesia to raise up to Rph2.6tr ($193m) in primary and secondary proceeds.

Indonesia’s ratings upgrade last week is positive, but came ahead of an expected slowdown in investments into the southeast Asian country ahead of the 2019 general election, say market watchers.

Indonesia’s Surya Pertiwi kicked off bookbuilding for its potential Rph1.64tr ($119.1m) IPO on Monday, joining a handful of other companies also seeking a domestic float.

Indonesian petrochemicals manufacturer Barito Pacific has set a price range for its rights offering to bag up to Rph18.5tr ($1.3bn).

Sarimelati Kencana, the owner of the Pizza Hut franchise in Indonesia, began premarketing its $100m IPO this week, as the country’s equities market gears up for more action.

Indonesia Eximbank has returned to bank lenders with a $950m loan, slashing pricing on all three of its tranches. It is making the most of a dearth of supply from other Indonesian borrowers, writes Pan Yue.

Indonesia Eximbank is riding on the strong interest among bank lenders for its past fundraisings to launch a new $950m multi-tranche loan at razor-thin pricing levels.

Sarimelati Kencana, the owner of the Pizza Hut franchise in Indonesia, has started talking to investors about a $100m IPO, according to bankers close to the trade.

Bank BRISyariah is out with Indonesia’s first chunky IPO of the year, launching an up to Rph1.7tr ($123.4m) share sale.

Solusi Tunas Pratama, an Indonesian telecommunications company, has launched a $577m-equivalent dual-currency loan denominated in dollars and rupiah into general syndication.

Surya Pertiwi, the sister company of listed Surya Toto Indonesia, has started pre-marketing for its own $150m IPO in the country.