Indonesia

Lippo Malls Indonesia Retail Trust has opened books for a Singapore dollar perpetual non call 5.5 year offering, as two of its compatriots also hit the offshore market.

Japfa Comfeed Indonesia is one of three names from the country in the debt market on Monday, opening a tap of its five non call three bonds printed three months ago.

Indonesia’s Soechi Lines opened books for a five non call three year on Monday morning, its inaugural dollar transaction.

Indonesia's Mitra Pinasthika Mustika Finance has returned to the international loan market with a $100m deal, less than a year after signing its last fundraising.

The Republic of Indonesia priced a ¥100bn ($900m) bond on Wednesday, its first public Samurai deal in decades and its maiden fundraise following an upgrade to its credit rating. Although the issuer was forced to drop a 10 year tranche, its transaction was a blow-out, reflecting Japanese investors’ strong interest in foreign paper. Addison Gong reports.

Chandra Asri Petrochemical is looking to bring a Rph6.2tr ($462.2m) rights-plus-block trade combo to the market, in what will be a liquidity event for the Indonesian firm.

As one of the fastest growing economies in the G20, Indonesia is on the up. Having taken some difficult decisions after coming to power in 2015, Joko Widodo’s administration is reaping the rewards, with growth accelerating, a budget deficit below 3% and inflation tamed. This benign economic background has helped the Indonesian government become one of the most sophisticated sovereign borrowers in the international market. At GlobalCapital ’s roundtable in Jakarta in early April, hosted by Standard Chartered, leading bankers and issuers explored the impact of reforms to state-owned enterprises, potential US interest rate rises and changes to tax laws on the potential to create a deeper, more effective debt market.

Media Nusantara Citra has enlisted three lenders to syndicate a $200m loan that refinances a borrowing from 2014.

Indonesia’s Agung Podomoro Land (APL) priced its maiden offshore bond on Thursday, achieving a number of firsts thanks to its leading position in the country’s property market and its strong financials.

It has been a long time coming but Indonesia has finally regained its investment grade status from all three major ratings agencies, after S&P boosted the sovereign’s rating to BBB- from BB+ with a stable outlook on May 19.

The Asia ex-Japan G3 bond market saw a slew of issuers from a variety of backgrounds hit the market on Thursday, with borrowers from Greater China as well as Indonesia venturing offshore.

The Republic of Indonesia released further guidance for its four-tranche yen transaction on Wednesday, with pricing expected in a week. The Samurai bond comes around the time the sovereign regained its investment grade status from the last of the three major ratings agencies