Indonesia

Lippo Karawaci navigated a crowded primary bond market on Wednesday to add $260m to its 2022s with a tap. The success of the deal reflects a big improvement in market sentiment compared with the early part of the year, when the Indonesian developer failed to pull off an exchange offer.

Primary bond activity in Asia sprang back to life on Wednesday following a slow start to the week, with high yield issuance leading the way.

Indonesia’s Adira Dinamika Multi Finance has wrapped up its latest fresh money borrowing at an increased amount of $225m. The halo of indirect ownership by Temasek helped the company rake in commitments.

Pricing details have emerged on a five year fundraising by Indonesian state-owned oil company Pertamina.

A $725m loan for Indonesia Eximbank that hit general syndication at the end of May has attracted commitments from 24 lenders.

Indonesian television broadcaster MNC Sky Vision has launched the second stage of syndication for its latest loan, having added two lenders in senior. The company has also trimmed the size of its fundraising to $225m from $275m after accessing an alternate source of funds.

Telekomunikasi Indonesia raised Rph3.3tr ($246m) from the first post-Brexit block trade in Asia, with the deal not only braving the fallout of Britain's exit from the European Union but also doubling in size.

Momentum is building for real estate investment trusts (Reits) among Indonesian corporates, after Ciputra group became the latest firm to take steps towards a listing, Fitch Ratings said in a note on Tuesday.

A $425m five year loan for Marlin Enterprise's acquisition of a gold mine in Indonesia has been received well by retail lenders.

Indonesian motorcycle credit company Federal International Finance (FIF) has roped in nine lenders to supply a $200m three year loan on a club basis.

Indonesian state-owned Sarana Multi Infrastruktur has capped its latest borrowing at $175m despite an oversubscription that saw demand close to $600m come in.

Indonesian state-owned oil company Pertamina is understood to have lined up seven banks for a $1.5bn five year fundraising.