Indonesia

Marlin Enterprise has opened syndication for a $425m five year loan to finance its acquisition of a gold mine in North Sumatra in Indonesia, said bankers working on the trade.

Indonesia’s Pertamina is planning a $1bn five year borrowing that includes a greenshoe option and has sent out a request for proposals to banks, according to bankers close to the situation.

Indonesia’s Cikarang Listrindo has kicked off bookbuilding for its IPO, which could raise up to $357m, with the deal already covered by anchor investors, said a source close to the deal.

The Republic of Indonesia has mandated three banks to work on a Samurai bond that is expected to launch later in the year.

Indonesian telecommunications giant XL Axiata is preparing to net Rph6.73tr ($510.36m) from a rights issue, fixing the price of the offering at Rph3,150 a share.

Indonesian consumer financier Federal International Finance (FIF) has reappeared in the syndicated loan market for a fresh borrowing.

Indonesian company Trans Media has received a covenant waiver from lenders on a $500m loan raised in 2014.

Indonesian power producer Cikarang Listrindo started pre-deal investor education for its $300m-$400m IPO on Thursday and is expected to open books by mid-May.

Indonesian company Sarana Multi Infrastruktur has approached retail participants for a $175m bullet loan to refinance debt.

The limited syndication process for a multi-currency financing for affiliates of Sino Horizon has begun with one bank at the helm.

Two privately owned Indonesian companies have hit the loan market with attractive margins on offer, marking a break from thinly priced deals by state-owned firms. But the mood among bankers is one of caution. While the outcome will provide a clear picture of the appetite for Indonesia, the syndications will face challenges. Shruti Chaturvedi reports.

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