Under the lead management of JPMorgan, roadshows will move to Singapore today ahead of pricing scheduled for the middle of next week. While some might question the wisdom of launching such a lowly rated deal so soon after the Bali bomb blast, country specialists highlight that spreads appear to have normalised and a number of traders used the initial spread widening as an opportunity to buy.
So too with the approach of Ramadan and the end of year, BNI has a small but relatively clear issuance window to take advantage of.
Key to the pricing of the B3B- rated deal will be whether it should come at a premium to Bank Mandiri, which...
