Indonesia

Indonesian company Sri Rejeki Isman (Sritex) seized an unexpected window for a deal late on Monday morning, launching and pricing a $150m bond soon after an investor call.

Emperor International Holdings is gearing up for a new dollar bond, hiring nine firms to work on the transaction, while Japfa Comfeed Indonesia is looking for fresh funds to partly redeem its 2018s.

Indonesian company Sri Rejeki Isman (Sritex) is readying a seven non call four dollar note, announcing the deal on the back of strong growth in 2016.

The Republic of Indonesia has mandated banks for a new dollar sukuk, getting ready to re-enter the market after setting records with its dual tranche sukuk last year.

A $575m borrowing by CT Corp company, Trans Retail Indonesia, has already received a few commitments, with still some time to go until the deadline.

Indonesian palm oil seller Royal Industries is looking to restructure a $405m loan after failing to repay the first and second instalments. And going by precedents, market participants are bracing themselves for a long-winded recovery process as legal proceedings unfold, writes Shruti Chaturvedi.

Lenders that have chipped in for Bank Negara Indonesia’s $750m facility can expect to be scaled back by close to 50% of their original commitments, said bankers close to the trade. Allocations are due to be announced in the next few days.

Indonesia’s Bowsprit Asset Management has extended the bookbuilding period for the potential Rph2.45tr ($183.4m) IPO of Dire Bowsprit Commercial & Infrastructure, according to a source at the asset manager.

Indonesian palm oil seller Royal Industries has failed to repay the first and second installments of a $405m loan raised in 2015, and has now proposed a restructuring.

Indonesian telecom infrastructure provider Tower Bersama Infrastructure has approached its relationship banks for borrowings worth $500m.

Indonesia’s Sarana Menara Nusantara said this week that one of its shareholders is planning to sell a stake in the company worth at least Rph1.7tr ($127.5m) at current market prices.

A subsidiary of Indonesian conglomerate Lippo Karawaci is bookbuilding for a potential Rph2.45tr ($183.8m) IPO of Dire Bowsprit Commercial & Infrastructure.