Citigroup is still working hard to market a likely $240m five year high yield bond for Indonesia's Noble Finance, but is facing scepticism from some investors who are concerned about the assets' ownership and financial performance. Although the bonds are secured on three landmark commercial properties in Jakarta and carry features to protect investors' interests and stop the guarantors taking money out before bondholders would be repaid, high yield investors said they remained uncomfortable about the assets' owners.
July 21, 2006