Indonesia

Credit Suisse has rejigged the leadership team of its investment banking and capital markets (IBCM) coverage businesses in Indonesia and Malaysia.

Indonesia palm oil company Perkebunan Nusantara III (PTPN) has signed an extension agreement for a $390.6m loan after almost a year-long discussion with banks.

Mining Industry Indonesia (Mind ID) is testing lenders’ appetite for a $1.5bn dual-tranche loan that has been launched into syndication through a group of eight banks.

Freeport Indonesia, a copper mining company, is in talks with banks for a new $750m loan for capital expenditure, after being forced to cancel a larger facility last year owing to the Covid-19 pandemic.

Indonesia's Bank Mandiri has sold its first sustainability bond, raising $300m after an order book that was more than 10 times subscribed at its peak.

Indonesia's Pertamina is planning to sell a green bond before the end of 2022, as the oil and natural gas company plots a gradual transition of its core business.

Bank Negara Indonesia sold a rare Basel III-compliant tier two dollar bond on Tuesday, raising $500m.

Moody’s downgraded Indonesian textile manufacturer Sri Rejeki Isman (Sritex) by two notches on Monday, as the company faces rising refinancing pressure.

Indonesian multi-finance companies are ready to charge back into the loan market after a quiet 2020, as the country’s economy picks up and consumer sentiment improves. Banks are also ready to accept borrowers from the sector, but there are challenges ahead, writes Pan Yue.

Japfa Comfeed Indonesia sold the country's first sustainability-linked bond this week, leveraging the market fervour for environmental, social and governance (ESG) investing to tighten pricing more than it would have for a conventional deal. Morgan Davis reports.

Indonesian non-bank financial institution Chandra Sakti Utama Leasing has launched a $75m loan into general syndication, with bankers expecting the firm’s modest rise in non-performing loans versus peers to hold it in good stead.

Indonesian garment company Pan Brothers has been downgraded by Fitch Ratings for the third time this year owing to defaults on a dollar loan.