Indonesia

Indomobil Finance Indonesia has increased the size of its latest syndicated loan to $250m from the initial $100m, keeping with its tradition of absorbing demand rather than heavily scaling back participants.

Astra Sedaya Finance is speaking to banks for a fresh money borrowing of up to $150m. The discussions for the new loan come just one month after the company signed a $200m deal targeting Japanese lenders.

Debut Indonesian issuer Pan Brothers ventured out to the market Thursday, pricing a $200m five non call three deal, paving the way for more Indonesian high yield issuers.

Zhuhai Huafa Group Co on Thursday morning opened books for its debut dollar-denominated offering. Howver, the company is no stranger to offshore markets as it has previously sold a dim sum bond.

Issuers anxious to meet with investors before the Chinese New Year are kicking off the week with roadshows around Asia. Beijing Capital Group, Qinghai Provincial Investment Group, China Huarong Asset Management, and Indonesia’s Pan Brothers are all pursuing dollar bonds.

Details on pricing have emerged on CT Corp company Trans Retail Indonesia’s $575m five year loan, which is expected to be pre-funded by seven lenders shortly.

The Indonesian ministry of finance has announced new regulations mandating bond dealers to act in accordance with the country’s best interests, effective immediately.

Bank Negara Indonesia has hit the market for a $750m borrowing via nine mandated lead arrangers and bookrunners, launching its biggest international syndicated loan.

CT Corp company Trans Retail, which had been in discussions with banks for a fresh financing since late last year, is on the verge of signing the deal.

Indonesia’s tiff with JP Morgan has brought the country unwelcome attention. While it is right to protect its own markets from instability, doling out punishments to the US bank undermines its reputation as a sophisticated, transparent country — qualities that could deter the international investors it has so successfully attracted.

The Republic of Indonesia is seeking bank proposals for a new dollar sukuk, with plans of returning to the Islamic finance market nearly a year after it priced a record dual-tranche bond.

The Indonesian government has cut its business ties with JP Morgan, following the bank’s decision to downgrade the country’s stocks in November.