Indonesia’s Paiton pushes out debt maturity with tap

Indonesian power producer Paiton Energy sweetened the dual-tranche bond and loan combo it sold in August by adding a $100m tap to the bonds this week, extending its debt maturity profile.

  • By Morgan Davis
  • 07 Dec 2017

Paiton’s initial $2bn deal, split between a $1.2bn 4.625% 2030 and a $800m 5.625% 2037, was lauded by the market for its innovative structure and its status as the first benchmark dollar project bond to be issued by an Asian power company in more than a decade.

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Panda Bonds Top Arrangers

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1 Bank of China (BOC) 28.62
2 CITIC Securities 21.06
3 China CITIC Bank Corp 9.72
4 China Merchants Bank Co 9.18
5 Industrial and Commercial Bank of China (ICBC) 7.56

Bookrunners of Asia-Pac (ex-Japan) ECM

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1 CITIC Securities 16,270.37 85 6.33%
2 UBS 14,128.60 88 5.50%
3 Goldman Sachs 11,744.39 58 4.57%
4 China International Capital Corp Ltd 11,422.00 55 4.45%
5 Morgan Stanley 10,900.56 58 4.24%

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1 HSBC 35,178.30 245 8.08%
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3 JPMorgan 26,001.66 142 5.98%
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5 Standard Chartered Bank 19,923.39 139 4.58%

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