Indonesia

Three bookrunners have kicked off primary distribution of an up to $150m revolver for Indonesian garment maker Pan Brothers.

Indonesia’s Tunas Baru Lampung printed its first international bond on Wednesday, a few months after attempting a transaction in Singapore dollars.

China’s Concord New Energy Group and Indonesia’s Sawit Sumbermas Sarana (SSMS) sold their first dollar bonds on Tuesday, successfully completing transactions that were stymied just two months ago.

The Indonesia Stock Exchange has been evacuated after a part of the building, thought to be a floor, collapsed on Monday.

Tata Steel, Tunas Baru Lampung and State Bank of India are on the prowl for dollars as they kick off their annual fundraising activities.

A $301m-equivalent five year refinancing for Trans Media Corpora has been launched into general syndication by five mandated lead arrangers and bookrunners.

The Chinese government contemplates RMB-denominated IPOs for mainland companies fundraising for Belt and Road projects, foreign ownership of Chinese bonds goes up in December, and premier Li Keqiang indicates the economy grew by 6.9% in 2017.

Telekomunikasi Indonesia (Telkom) has asked banks to submit bids for a €1bn financing to support its M&A activities, said a banker whose firm is in the race for the mandate.

Trans Media Corpora, the TV broadcasting arm of Indonesian conglomerate CT Corp, is due to launch a new borrowing into general syndication soon, according to two bankers working on the transaction.

The owner of Indonesia’s Pizza Hut franchise has hired three banks as lead underwriters on an IPO slated for this year, said sources close to the matter.

The Republic of Indonesia added yet another feather to its cap this week, selling its first SEC-registered bond on Monday. The sovereign has long been considered one of the most sophisticated debt issuers in Asia, and its new $4bn transaction shows how far it has come, writes Morgan Davis.

Indonesian power producer Paiton Energy sweetened the dual-tranche bond and loan combo it sold in August by adding a $100m tap to the bonds this week, extending its debt maturity profile.