Matahari set to reopen high yield market as refi looms

03 Jun 2009

Matahari Putra Prima, the Indonesian retailer, will finish a round of international investor meetings early next week, prompting speculation it will try to reopen Asia’s high yield market with the first international new issue for almost 12 months.

The B1/B+ rated company has hired Citi and UBS to arrange meetings with fixed income investors in Asia and Europe. It remains unclear whether the borrower is considering a dollar bond or has other options in mind, but investors will be focused on Matahari’s outstanding $150m 9.5% bond ...

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