Tower Bersama uses upgrade to reel in buyers

By Morgan Davis
14 Jan 2021

Indonesia's Tower Bersama Infrastructure used its recent rating upgrade to entice investors to its $300m bond on Wednesday. Price discovery was not easy but the telecommunication tower provider’s improving business profile appealed to the market.

The last time the telecommunication tower provider sold a dollar bond, in January 2020, it was rated BB by S&P Global Ratings and BB- by Fitch. The $350m 4.25% 2025 notes were sold at par at the time.

Tower Bersama has been chipping away at ...

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