Chandra Asri returns in triumph
Petrochemical producer Chandra Asri (B2/B+, Moody’s/S&P) last Wednesday priced US$230m of five-year non-call three amortising guaranteed senior global paper for its subsidiary Altus Capital, which its subsidiary Styrindo Mono Indonesia is guaranteeing. The deal, whichDeutsche Bank, DBS and Standard Chartered led, was Chandra Asri’s debut in the offshore public debt markets and something of a comeback story, given that it was roadshowed last October and got a damp reception amid choppy markets and heavy supply.
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