Modernland tackles looming refis with $150m bond

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By Morgan Davis
22 Aug 2018

Indonesia’s Modernland Realty raised $150m on Tuesday to offset some of its pressing debt maturities, becoming the country’s first high yield bond issuer since May.

The backdrop for an Indonesian high yield deal has been less than stellar recently, with no successful transactions from corporations in almost three months. Earlier in August, property company Intiland Development failed to get what would have been its debut dollar bond off the ground after investors ...

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