Adaro’s aggression pays off as four banks agree 10yr deal

Indonesian companies have flexed their muscles to become Asia’s most aggressive borrowers in recent months, consistently pushing their relationship banks on covenants, pricing and tenor. But Adaro Indonesia pulled off an unprecedented feat this week, persuading four Asian banks to agree a 10 year loan — the longest maturity yet for an Indonesian corporation.

  • 03 Jun 2011

Bank Mandiri, Bank of Tokyo-Mitsubishi, DBS and OCBC have agreed a $1bn facility for Adaro Indonesia, a subsidiary of Indonesian coal miner Adaro Energy. The borrower initially asked for $750m, but was offered $1bn in a club deal that worried many loans bankers.

"I just can’t see how banks ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 1,712.34 6 12.44%
2 SG Corporate & Investment Banking 1,292.64 1 9.39%
2 Rabobank 1,292.64 1 9.39%
4 Mizuho 1,215.54 3 8.83%
5 Wells Fargo Securities 1,012.71 4 7.36%