Five Indonesia's corporate bonds worth US$2.58 billion (Rp25 trillion) are frenzy to inundate global debts market in the next one-two weeks. They are set to snap up a low cost financing, while rupiah bonds are relatively more expensive.
After delaying for couple weeks, PT Bukit Makmur Mandiri Utama (Buma), coal mining contractor which is underway acquired by PT Delta Dunia Makmur Tbk, is now ready to determine price of its bonds of around US$350 million. Buma is helped by four arrangers, Barcalys Capital, Deutsche Bank, ING, and Macquarie Securities.
Following Buma, PT Chandra Asri Petrochemical Centre, propelled by DBS Bank and Deutsche Bank, is initiating an overases roadshow to sell US$250 of high yield bonds, while PT Indika Energy Tbk today starts to enroll debt market by offering US$230 million of bonds.
A state-owned electricity producer PT Perusahaan Listrik Negara (PLN), arranged by Barclays Capital and UBS, is looking the best moment to grab US$1.25 billion of US dolar bonds, following a previous issuance of US$750 million bonds.
A stellar coal mining in the stock market, PT Bumi Resources Tbk, is seeking US$500 million of debts to underpin its expansion by developing Herald Resources's projects in Sumatra. Bumi has designated two joint arrangers Credit Suisse and Deutsche Bank.
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