Matahari to sell new HY bonds as investors back extension

28 Jul 2009

Matahari Putra Prima, the Indonesian retailer, is to issue new high yield bonds after holders of its existing debt due October 2009 backed plans for an exchange offer.

Investors holding $79.6m of Matahari’s 9.5% 2009 bonds have agreed to switch into a new deal due 2012, while bankers confirmed the company would also increase the size of the existing issue after an investor meeting at the start of August.

Matahari is looking to extend the $115m outstanding ...

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