Indonesia

Modernland Realty launched a new dollar deal on Thursday, following on the success of other high yield Indonesian names this year.

Indonesia’s triple-C rated Indika Energy grabbed $265m from a new deal on Monday, on the back of a five times subscribed book fueled by yield hungry investors.

Indonesia’s Modernland Realty is preparing for a new US dollar bond this week, following compatriot property issuer Pakuwon Jati’s tightly priced February deal.

Indonesia Eximbank and State Bank of India each secured $500m bonds on Thursday, offering investors some alternative to the Greater Chinese names that blasted into the market.

Asia ex-Japan G3 DCM volume reached a new high in the first quarter, with high yield names staging a resurgence. Chinese borrowers dominated the market, but given their deal timing is being tightly regulated, high yield credits from the rest of Asia are jumping into action, buoying sentiment for the next quarter. Addison Gong reports.

Astra Sedaya Finance (ASF) is targeting Taiwanese bank liquidity for its latest syndicated loan, a $90m amortiser helmed by three banks.

Indonesia Eximbank and State Bank of India launched new dollar deals on Thursday, in a busy Asian debt market ahead of a holiday-filled April.

Indonesia Eximbank is meeting investors for its second dollar bond, while Indika Energy is looking to refinance its 2018s with new notes.

Japfa Comfeed Indonesia sealed a $150m bond on Thursday, exceeding both its pricing and size targets, as an improved credit profile and a conducive market backdrop contributed to the deal’s success.

The Republic of Indonesia broke its own Islamic finance record on Wednesday, sealing a whopping $3bn dual tranche sukuk.

Emperor International Holdings, Xinjiang Guanghui Industry Investment (Group) Co, Japfa Comfeed Indonesia and Zhuhai Huafa Group Co ventured into the debt market on Thursday, following some recovery in credits in the US overnight.

The Republic of Indonesia launched a two-tranche sukuk on Wednesday, offering investors five and 10 year dollar options for its annual pursuit of Islamic financing.