Sritex bonds plummet after missed payment

By Morgan Davis
03 May 2021

Indonesian textile manufacturer Sri Rejeki Isman (Sritex) has seen its dollar bonds fall to new lows in the secondary market, as investors grapple with the company's missed debt payment.

Sritex's dollar notes — a $150m 6.875% 2024 bond and a $225m 7.25% 2025 note — were trading around a cash price 23 in the secondary market on Monday afternoon. That represents around a four point drop since April 23, when Sritex missed a $850,000 interest payment on ...

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