Indonesian property bonds dip over Modernland’s woes

By Alice Huang
29 Jun 2020

Indonesian property bonds have taken a hit in the secondary market, following growing concerns that Modernland Realty will default on a bond due in July.

Modernland’s notes plunged last week following a series of ratings downgrades tied to concerns the firm will be unable to repay a domestic bond that is set to mature in July.

The company has two outstanding dollar bonds, a $150m 10.75% 2021 note and a ...

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