BSD rides market wave for dollar trade

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By Morgan Davis
21 Jan 2020

Real estate company Bumi Serpong Damai (BSD) followed the recent success of other high yield Indonesian borrowers in the dollar market on January 20, homing in on a refinancing opportunity that had slipped through its fingers in 2019.

The Ba3/—/BB- rated borrower rushed into the market on the morning of January 20, foregoing any pre-marketing exercises but instead opting for one investor call soon after the market opened. The company wanted to take advantage of the favourable backdrop, which has seen other high yield Indonesian issuers, ...

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