Antam sells $200 million bond at 7.87 percent - Report
Tuesday, September 16 2003 - 08:37 AM WIB
State diversified miner PT Aneka Tambang (Antam) sold a US$200 million, seven-year bond at a yield of 7.875 percent, lead manager and bookrunner ABN AMRO said on Tuesday, as reported by Reuters.
The 7.375 percent note, which has a call option after four years, was priced at 97.348 to yield 7.875 percent, at the mid-range of the initial price guidance of 7.75 to eight percent.
The transaction attracted US$265 million of orders and 48 percent of the deal went to Indonesian investors.
The deal was supposed to have been priced late last week, but was delayed due to a public holiday in Hong Kong on Friday.
Global ratings agency Standard & Poors has rated the bond issue at single-B, a notch higher than Indonesia's foreign currency rating of B-minus, while rival Moody's Investors Service rated the deal at B3. (*)